1、M BluePaperOliver Wyman is a global leader in management consulting.For more information,visit .Oliver Wyman is not authorized or regulated by the PRA or the FCA and is not providing investment advice.Oliver Wyman authors are not research analysts and are neither FCAnor FINRA registered.Oliver Wyman

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3、e see the Disclosure Section located at the end of this reportMorgan Stanley does and seeks to do business with companies covered in Morgan Stanley Research.As a result,investors should be aware that the firm may have a conflict of interest that could affect the objectivity of Morgan Stanley Researc

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5、h FINRA,may not be associated persons of the member and may not be subject to FINRA restrictions on communications with a subject company,public appearances and trading securities held by a research analyst account.Global Banks&Asset Managers Digital Rails,Real Economics:Digital Assets&the Future of

6、 Wholesale Banking Digital Assets are unlikely to disrupt Wholesale Banking,but digital rails could reshape the economics of several major business lines by 2030.Banks can defend and even grow share by investing now in trusted client gateways,tokenized rails,and ecosystems to support the future mode