- Charles Schwab launched direct BTC and ETH trading for select retail clients
- The new service is called Schwab Crypto
- Paxos handles trade execution and crypto sub-custody
- Schwab manages nearly $12 trillion in client assets
Charles Schwab Expands Into Direct Crypto Trading
Charles Schwab officially launched its crypto trading platform, allowing select retail clients to directly buy and sell bitcoin and ether for the first time.
The new platform, called Schwab Crypto, marks a major shift for one of America’s largest brokerage firms, which previously only offered indirect crypto exposure through ETFs, futures, and other investment products.
The rollout initially includes trading access for bitcoin and ether, though broader crypto support could eventually expand over time.
Traditional Finance Continues Moving Into Crypto
The move further demonstrates how traditional financial institutions are increasingly integrating digital assets into their core offerings.
Charles Schwab reported approximately $11.77 trillion in client assets and more than 39 million active brokerage accounts as of the end of March. Even limited crypto adoption among its customer base could significantly increase mainstream retail participation in digital assets.
The launch also signals growing confidence among established financial firms as crypto regulation in the United States becomes more defined.
How Schwab Crypto Works
Clients using Schwab Crypto maintain a separate crypto account connected to their existing brokerage relationship.
Paxos handles trade execution and crypto sub-custody services, while Charles Schwab Premier Bank acts as the primary custodian.
The platform charges a 75-basis-point trading fee and is currently available in all U.S. states except New York and Louisiana.
The company also noted that eligibility requirements apply and not every customer will automatically qualify for crypto trading access.
Competition Among Brokerages Intensifies
The expansion puts Schwab in more direct competition with crypto-native platforms such as Coinbase as well as traditional trading firms increasingly embracing crypto services.
Brokerages have spent the past several years gradually introducing crypto functionality after seeing rising demand from retail investors who want digital assets integrated into familiar investment platforms.
For Schwab, crypto trading also represents an opportunity to attract younger investors and diversify revenue streams beyond traditional equity and fixed-income products.
The launch reflects a broader industry trend where crypto increasingly becomes a standar
