Scott Melker, host of The Wolf Of All Streets podcast, posted on X on Wednesday, September 30, 2026, that Morgan Stanley is actively building for a much larger onchain financial system. Melker stated the bank has created a Digital Asset Lab to test stablecoins, tokenization, and DeFi, without risking its core systems. He highlighted that this includes "tokenized bank deposits, CBDCs and tokenized money-market funds. But one area stands out: DeFi vaults." Melker added that Morgan Stanley’s Head of Digital Assets Amy Oldenburg sees a "very reasonable path" for vaults to become part of the future.
This development occurs as interest in digital assets and blockchain technology within traditional finance continues to grow. Bitcoin, a key digital asset, cleared $84,000 recently and is eyeing $100,000 after a double-bottom breakout. The cryptocurrency saw a 10.1% rise in September, nearing a 2012 record, with ETF inflows topping $999 million. Major institutions are increasingly exploring the integration of blockchain into financial products and services, as noted in recent coverage about BlackRock outlining AI agent demand for stablecoins and tokenized compute.
Melker's report implies that a major Wall Street institution is moving beyond mere experimentation with crypto to actively integrate decentralized finance (DeFi) principles into its operations. The focus on DeFi vaults suggests an interest in automating aspects of traditional fund management using predetermined strategies. This indicates Morgan Stanley views the shift to an onchain financial system as a significant future direction, with the question shifting from whether finance goes onchain to how much of it stays offchain.
