Andrew Peel, the former head of digital asset markets at Morgan Stanley, has decided to leave the bank in order to launch his own crypto venture based in Zug, Switzerland. Peel, who joined Morgan Stanley in 2018 after a career as a trader at Credit Suisse, stepped down from his position in March and is now gearing up to start fundraising for his new project.
According to sources familiar with the matter, Peel’s new venture will focus on bridging the gap between traditional finance and decentralized finance (DeFi). The company, which will be headquartered in Zug, Switzerland’s renowned crypto hub, will operate as an asset management vehicle that both invests in and issues DeFi assets such as tokenized funds. Additionally, the firm will also have a technology division dedicated to developing trading products that help traditional financial institutions navigate the evolving crypto landscape as it becomes more regulated.
Peel’s departure from Morgan Stanley comes at a time when the bank is actively exploring its role in the crypto market. Earlier this year, Morgan Stanley CEO Ted Pick expressed the firm’s desire to collaborate with regulators, including the U.S. Treasury, to clarify its position within the crypto space. Pick also mentioned the bank’s intention to seek guidance on expanding its role as a transactor in the crypto market.
Meanwhile, Morgan Stanley is preparing to launch crypto trading services for retail investors through its E*Trade platform in 2026. This move will make crypto trading accessible to all 5.2 million of the platform’s retail clients.
As Peel embarks on his new venture, he brings with him a wealth of experience and expertise in the financial markets. His decision to venture into the world of crypto and DeFi underscores the growing importance of digital assets in the global financial landscape. With his background in traditional finance and his vision for the future of decentralized finance, Peel is poised to make a significant impact on the evolving crypto industry.