Morgan Stanley pushes tokenized stock trading back to early 2027: the products do not exist yet, its digital asset strategy chief says

Morgan Stanley has pushed back its timetable for tokenized stocks. Amy Oldenburg, the bank's head of digital asset strategy, told The Block in an interview at the Token2049 conference that the first quarter of 2027 is now a more realistic date for supporting tokenized equities on its alternative trading system, a venue that matches orders away from public exchanges. In March the bank had pointed to the second half of 2026.

The reason she gave is that there is not yet much to trade. "We need product in order to be able to support them within the ATS," Oldenburg said, adding that client demand is thin because the products are not available.

She pointed to events that could change that, The Block reported: DTCC's tokenization service, due to launch at the end of October, and the GENIUS Act, the US stablecoin law, taking effect in January.

Morgan Stanley already offers stocks, derivatives and swaps through the same trading model and treats tokenization as an extension of it, according to the report. Oldenburg said the nearer-term openings are in private shares, structured notes and access to private funds, where tokens could cut paperwork. The bank is also building its own wallet technology.

Asked about forecasts that tokenized real-world assets could be a $3 trillion to $10 trillion market by 2030, she said she expects the outcome to fall within that range. On perpetual futures and prediction markets, the bank is making no commitment but would support them if clients want them.