Charles Schwab is set to introduce direct spot trading for bitcoin and ethereum to its retail clients in the coming weeks, marking a new step into digital assets by one of the world’s largest brokerage firms. The move could significantly expand mainstream adoption, as Schwab currently serves over 34 million brokerage customers and manages about $12 trillion in client assets.
Spot crypto trading on Schwab platforms
The upcoming launch will allow retail investors to buy and sell bitcoin and ethereum through Schwab’s network of existing platforms, including Schwab.com, the Schwab Mobile App, and the thinkorswim trading suite. These two leading cryptocurrencies represent a major share of global crypto market capitalization.
Schwab expects to roll out the service gradually, starting with a phased launch. Clients will access the “Schwab Crypto” feature using their existing accounts, with regulatory compliance and security measures in place. Charles Schwab Premier Bank, SSB will serve as the custodian for client digital assets.
Transaction fees for crypto trades will be set at 75 basis points per trade, putting Schwab’s service among the more competitively priced options in the brokerage sector. The firm plans to add more cryptocurrencies and transfer features for deposits and withdrawals as the platform develops.
Strategic partnerships and infrastructure
To provide secure and regulated infrastructure, Schwab is partnering with Paxos. Paxos is a New York–based blockchain company directly overseen by the Office of the Comptroller of the Currency and specializes in custody and trade execution for digital assets. Its technology already supports several major financial institutions in the U.S.
By bringing in Paxos, Schwab aims to ensure institutional-grade security and compliance for its client crypto holdings under a federally regulated trust structure.
Schwab clients will be able to monitor, research, and trade digital assets alongside their traditional portfolio holdings like stocks, mutual funds, and ETFs. Education and research resources from Schwab Coaching and the Schwab Center for Financial Research will support investors navigating the new asset class.
Schwab’s digital asset ambitions
Charles Schwab Corporation, established in 1971 and headquartered in Westlake, Texas, is a top U.S. brokerage and banking company known for commission-free trading, investment management, and retirement planning. With more than 34 million active clients and $12 trillion in assets under management, Schwab holds a major presence in the retail investing landscape.
Joe Vietri, Head of Digital Assets at Schwab, described the new initiative as a natural progression of the firm’s digital strategy. He emphasized Schwab’s goal to become “the destination of choice for retail investors who want to integrate digital assets into their portfolios with confidence.”
“Clients want to conduct more of their financial lives at Schwab. With Schwab Crypto, they can trade digital assets within their existing accounts while drawing on the service, research, and tools they rely on,” Jonathan Craig, Head of Retail Investing, noted in connection with the rollout.
Currently, Schwab clients can hold crypto-linked ETFs, mutual funds, and futures. The introduction of spot trading allows for direct exposure and aligns Schwab with other platforms such as Coinbase and Robinhood, which have long served retail crypto traders. The company plans ongoing development of its digital asset offering, with a roadmap to expand supported coins and account features over time.
