安娜·伊雷拉和伊莎贝尔·李报道，摩根士丹利设立了一个数字资产实验室，测试稳定币、代币化和去中心化金融应用等技术。此前，这家华尔街银行正在探索如何在其业务中使用基于区块链的系统。
By Anna Irrera and Isabelle Lee Morgan Stanley has set up a Digital Asset Lab to test technologies including stablecoins, tokenization and decentralized finance applications as the Wall Street bank explores how blockchain-based systems could be used across its business.
这项计划是摩根士丹利现有创新实验室网络的一部分。该网络为员工提供专用设施，使其能够探索新兴技术，而不会给银行核心系统带来风险。该公司主管市场创新及实验室业务的梅根·布鲁尔在采访中表示。
The initiative is part of Morgan Stanley’s existing network of innovation labs, which give employees dedicated facilities to explore emerging technologies without putting the bank’s core systems at risk, Megan Brewer, who leads market innovation and labs at the firm, said in an interview.
随着银行及其他金融机构加大数字资产及其底层技术的投资，尤其是将传统资产引入区块链的努力不断加快，此举正是在这一背景下推出的。代币化是指为股票、债券和现金等资产创建基于区块链的版本，从而可能让这些资产交易和转让更快，并实现全天候操作。
The move comes as banks and other financial firms deepen their investments in digital assets and the technology underpinning them, particularly as efforts to bring traditional assets onto blockchains gather pace. Tokenization involves creating blockchain-based versions of assets such as stocks, bonds and cash, potentially allowing them to be traded and transferred more quickly and around the clock.
摩根士丹利的创新实验室迄今主要关注电子交易、网络安全和机器学习等领域。布鲁尔表示，这些实验室由固定团队组成，他们与银行各部门的专家合作，在新技术获准与公司系统交互之前对其进行测试。
Morgan Stanley’s innovation labs have so far focused on areas including electronic trading, cybersecurity and machine learning. The labs are staffed by permanent teams that work alongside specialists from across the bank to test new technologies before they are allowed to interact with the firm’s systems, Brewer said.
“这里是技术在公司内部获得规模化应用资格的地方，”布鲁尔说，并补充称，银行每年通过这些实验室推进最多270个项目。“我们希望为团队提供一个环境，让他们在其中学习并构建创新，也让我们能够依据更多证据作出决策。”这些由银行创新团队负责的实验室与公司内部的多个专业团队密切合作，其中包括由艾米·奥登堡领衔的摩根士丹利数字资产团队。实验室分布在纽约、格拉斯哥和班加罗尔等城市，总面积达2万平方英尺，其设施类似数据中心。
“It’s where technology earns the right to scale at the firm,” Brewer said, adding that the bank runs up to 270 projects a year through the labs. “We want to give teams an environment where they can learn and build, and that allows us to make more evidenced-based decisions.”The labs — overseen by the bank’s innovation team — work closely with specialized groups across the firm, including Morgan Stanley’s digital-asset team, headed by Amy Oldenburg. They occupy a total of 20,000 square feet across cities including New York, Glasgow and Bangalore, with facilities that resemble data centers.
“数字资产实验室将为我们提供一个安全、合规且相互隔离的环境，使我们能够测试和探索其中一些新的数字资产领域。”奥尔登堡说。她的团队还计划测试各种形式的数字货币或现金等价物，包括代币化存款、中央银行数字货币和代币化货币市场基金。
“The digital-asset lab will give us a secure, compliant and segregated environment to be able to test and explore some of these new areas of digital assets,” Oldenburg said. Her team also plans to test various forms of digital money or cash equivalents, including tokenized deposits, central-bank digital currencies and tokenized money market funds.
华尔街企业已经探索区块链技术十年，但在美国总统唐纳德·特朗普领导下，美国监管环境更加有利，加之将传统金融市场迁移至这些网络的努力不断加强，相关活动显著加快。奥尔登堡表示，尤其值得关注的一个领域是去中心化金融金库。
Wall Street firms have been experimenting with blockchain for a decade, but a more favorable US regulatory environment under President Donald Trump and growing efforts to move traditional financial markets onto these networks have accelerated activity. One area of particular interest is decentralized-finance vaults, Oldenburg said.
金库是资产池，利用基于区块链的软件，按照预先设定的策略自动部署资本。投资者将资产——通常是稳定币或其他数字代币——存入金库，金库随后将这些资产投入一系列去中心化市场。投资者通常会获得一个代币，代表其在金库中的份额。运营方可以就策略管理收取费用。
Vaults are pools of assets that use blockchain-based software to automatically deploy capital according to a predetermined strategy. Investors deposit assets — often stablecoins or other digital tokens — into a vault, which then puts them to work across a range of decentralized markets. Investors typically receive a token representing their share in the vault. Operators can charge fees for managing the strategy.
对资产管理机构而言，金库的吸引力在于其类似于投资基金，能够将投资组合管理和行政管理中的一些环节自动化。这可能让企业推出新的投资产品、自动化执行策略，并实现全天候运营。
For asset managers, the attraction is that vaults resemble investment funds that automate elements of portfolio management and administration. That could allow firms to create new investment products, automate strategies and operate them around the clock.
“非常合理的一条发展路径是，未来金库将成为金融体系的一部分。”奥尔登堡说，“但我们需要了解这项技术如何运作——它仍处于非常早期的阶段，我们不能让平台的其余部分面临风险。”她解释道，这使金库成为适合在实验室中测试的候选对象。
“There is a very reasonable path to see vaults being part of the future going forward,” Oldenburg said. “But we need to understand how that technology works — it is too nascent, we cannot put the rest of the platform at risk.”This makes them a good candidate for testing in the lab, she explained.
今年早些时候，摩根士丹利在其E*Trade平台上推出了加密货币交易，这是该公司在这一领域更广泛战略布局的一部分。
Earlier this year, Morgan Stanley rolled out cryptocurrency trading on its E*Trade platform, as part of its broader roadmap in the sector.