Vinyl is a SEC-registered transfer agent, founded in 2022, that serves companies listed on the NYSE, Nasdaq and OTC Markets, as well as companies preparing to go public.
Morgan Stanley says blockchain, atomic settlement and tokenization are transforming the industry, and that Vinyl’s technology will help it modernize how ownership is recorded, transferred and managed. It will integrate it into Morgan Stanley at Work, which works with about half of the S&P 500, alongside EquityZen.
- Morgan Stanley expands its next-generation transfer agent capabilities to simplify equity ownership infrastructure for companies and their shareholders.
- It connects cap table management, equity administration, share transfer and wealth management to support clients through private-to-public transitions and liquidity events.
- It will strengthen the digital asset ecosystem with key infrastructure for future tokenization initiatives.
New York .- Morgan Stanley (NYSE: MS) today announced that it has signed an agreement to acquire Vinyl Equity, a SEC-registered digital transfer agent and shareholder registry platform. The acquisition expands the Morgan Stanley at Work ecosystem by adding transfer agency capabilities, offering companies a unified platform for cap table management, equity administration, share transfer and wealth management infrastructure across public and private markets.
“Our clients have told us they want more innovation in this space. Vinyl helps us meet that demand while strengthening the end-to-end experience we offer issuers and shareholders,” said Scott Whatley, Head of Morgan Stanley at Work. “As a differentiated global administrator with deep experience in equity compensation, we help thousands of companies throughout their life cycle. Adding Vinyl’s transfer agency capabilities allows us to deepen those relationships even further.”
Founded in 2022, Vinyl has developed a digital platform that modernizes the traditionally manual work of transfer agents through digital workflows, real-time reporting and streamlined administration. Vinyl works with issuers, legal counsel and banking partners, focusing on some of the most operationally complex moments for a private company, such as the IPO process. The platform is designed to handle the complexity involved in taking a company public.
“Private markets play an increasingly important role in wealth management, as companies stay private longer and value is created outside public markets,” said Jed Finn, Head of Morgan Stanley Wealth Management. “As these companies grow and become more complex, the infrastructure must keep pace as they access public markets. At the same time, blockchain technology, atomic settlement and tokenization are transforming the industry. As part of Morgan Stanley Wealth Management’s platform for the private-to-public transition, Vinyl’s digital technology will help us improve the way ownership is recorded, transferred and managed.”
“We founded Vinyl on the conviction that the infrastructure underpinning corporate ownership needed to change,” said Rob Schoder, co-founder and CEO of Vinyl Equity. “Joining Morgan Stanley gives us an exciting opportunity to accelerate that vision and bring our technology and expertise to a greater number of companies.”
Across its suite of services, Morgan Stanley at Work covers approximately 50% of the S&P 500 and more than 70% of the top 100 unicorn companies by market capitalization, serving more than 3,400 corporate clients and supporting 6.7 million participants. It is the largest provider of Rule 144 and 10b5-1 transaction services.
Together with Morgan Stanley Wealth Management’s Private Markets Transaction Desk and the private share exchange platform EquityZen, Vinyl strengthens its network of solutions for late-stage private companies preparing for an IPO. Morgan Stanley Wealth Management’s collaboration with private capital software platform Carta extends this reach, with Morgan Stanley as Carta’s exclusive referral partner for U.S. equity management and workplace solutions for late-stage private companies, as well as the preferred wealth manager for Carta participants. To serve the people driving these companies, Morgan Stanley’s Founder Specialists are ready to address the specific needs of private market founders and executives.
The transaction is subject to customary closing conditions and is expected to close in the first quarter of 2027.
Morgan Stanley & Co. LLC served as financial advisor and Sidley Austin LLP as legal advisor to Morgan Stanley. FT Partners served as exclusive financial advisor to Vinyl Equity. Cooley LLP served as legal advisor to Vinyl Equity.
About Morgan Stanley at Work
Morgan Stanley at Work provides workplace financial benefits that build confidence and loyalty, helping companies attract and retain top talent. Its comprehensive solutions support organizations at every stage of their growth through a combination of modern technology, expert guidance and dedicated service, including equity solutions, deferred compensation, executive services, and savings and giving. Each solution also includes a financial wellness program that gives employees the knowledge, tools and support they need to make the most of their benefits and achieve their personal goals.
About Morgan Stanley:
Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, the firm’s employees serve clients worldwide, including corporations, governments, institutions and individuals. For more information about Morgan Stanley, please visit https://www.morganstanley.com/ .
About Vinyl Equity
Vinyl Equity is a SEC-registered transfer agent serving companies on the New York Stock Exchange (NYSE), Nasdaq and over-the-counter (OTC) markets. Vinyl offers publicly listed issuers and those soon to be listed shareholder registry management, proxy administration, corporate actions management and paying agent services. Vinyl’s investors include Jump Capital, Mitsubishi UFJ Innovation Partners, Spark Capital, Index Ventures and Infinity Ventures.
Forward-Looking Statements
This communication contains “forward-looking statements” within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In this context, forward-looking statements often address the expected timing and benefits of the proposed transaction, as well as expected future performance and financial condition, and often include words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek” and similar expressions. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made, reflect management’s current estimates, projections, expectations, assumptions, interpretations or beliefs, and are subject to risks and uncertainties that could cause actual results to differ materially. Important factors that may cause such a difference include, but are not limited to, (i) the risk that the proposed transaction may not close on the anticipated terms or timeline, or at all, (ii) potential adverse effects resulting from the announcement or completion of the transaction, (iii) the possibility that the anticipated benefits of the proposed transaction are not realized or are not realized within an expected timeframe, (iv) Morgan Stanley’s ability to successfully integrate the Vinyl Equity business and achieve the anticipated synergies, and (v) legal, regulatory and technological developments affecting transfer agency services, digital assets and tokenization. For a discussion of additional risks and uncertainties that may affect Morgan Stanley’s future results, please see “Forward-Looking Statements” preceding Part I, Item 1, “Competition” and “Supervision and Regulation” in Part I, Item 1, “Risk Factors” in Part I, Item 1A, “Legal Proceedings” in Part I, Item 3, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II, Item 7 and “Quantitative and Qualitative Disclosures about Risk” in Part II, Item 7A, in Morgan Stanley’s Annual Report on Form 10-K for the year ended December 31, 2025, and other items throughout the Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, including any amendments thereto. Except as required by applicable law, Morgan Stanley undertakes no obligation to update forward-looking statements to reflect the impact of circumstances or events that may arise after the date of such statements.
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