Charles Schwab Launches Spot Crypto Trading for Retail Clients
U.S. broker Charles Schwab announced the launch of a spot cryptocurrency trading service for retail clients, offering direct access to Bitcoin and Ethereum. The platform will be rolled out gradually over the coming weeks.
Charles Schwab Corporation, one of the largest financial conglomerates in the United States providing brokerage and investment services, introduced Schwab Crypto, a spot crypto trading service. The new product will allow retail investors to trade cryptocurrencies alongside traditional assets within the Schwab ecosystem.
Founded in 1971 in Texas, Charles Schwab serves both retail and institutional clients, offering trading in stocks, bonds, ETFs, derivatives, as well as wealth management and advisory services. Schwab clients hold around 20% of all spot exchange-traded products based on cryptocurrencies.
In the initial phase, users will be able to trade BTC and ETH, which together account for about 75% of the total digital asset market capitalization. The fee will be 0.75% per transaction. Access to trading will be available via Schwab’s web platform, mobile app, and the thinkorswim trading platform.
The service infrastructure includes opening a separate crypto account linked to the client’s brokerage account. Custody services will be handled by Charles Schwab Premier Bank (CSPB), while trade execution and sub-custody services will be provided by Paxos Trust Company, which is regulated by the Office of the Comptroller of the Currency (OCC).
According to a survey conducted by the company among 460 crypto investors, the key factors in choosing a platform are transparent fees, brand reputation, and asset security. In addition to trading, Schwab Crypto will include educational materials and analytics from the Schwab Center for Financial Research, as well as 24/7 customer support.
Schwab crypto accounts will be available in all U.S. states except New York and Louisiana, and won’t be accessible in international jurisdictions. The company plans to expand the list of supported cryptocurrencies and add deposit and withdrawal functionality for digital assets in the future.
The U.S. Commodity Futures Trading Commission (CFTC) approved spot cryptocurrency trading on federally regulated futures exchanges at the end of 2025.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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