Charles Schwab has launched Schwab Crypto, a new spot trading platform offering direct access to Bitcoin (BTC) and Ethereum (ETH) for retail customers in the United States. This marks Schwab’s first significant entry into the crypto trading space, introducing the largest digital assets into its brokerage ecosystem.
Rollout strategy focuses on BTC and ETH
The platform’s phased rollout will start by granting access to spot trading in BTC and ETH, which together represent approximately three-fourths of the total cryptocurrency market capitalization. Schwab confirmed the feature will gradually become available to its existing user base over the coming weeks, with plans to add access for additional users as system capacity expands.
Schwab, a leading US-based financial services company with more than $8 trillion in client assets, aims to combine traditional brokerage services with digital asset offerings. By embedding crypto trading within its current infrastructure, Schwab intends to position itself as a unified entry point for both traditional and digital investments.
A fixed commission of 75 basis points will apply for each completed transaction, calculated on the dollar value traded. This pricing model puts Schwab’s fees above some retail crypto platforms, but the company points to its long-standing reputation and integrated services as competitive advantages.
Custody model and Paxos partnership
Schwab Crypto accounts are being offered through Charles Schwab Premier Bank and will function separately from regular brokerage holdings. While customers will access trading via Schwab’s established web and mobile platforms, crypto assets will be custodied and handled distinctly from other investments on the platform.
Paxos, a blockchain infrastructure firm headquartered in New York and regulated as a trust company by the US Office of the Comptroller of the Currency (OCC), is responsible for sub-custody and execution. This partnership is intended to ensure robust regulatory compliance and operational security for digital asset transactions.
According to Schwab’s recent customer research, user preferences highlighted demand for low-cost trading, institutional-level asset safety, and brand reliability. These findings informed the design of Schwab Crypto, focusing on a blend of competitive pricing, regulated custody, and familiar interfaces.
The service is accessible through Schwab.com, its mobile applications, and the thinkorswim trading suite. There are indications Schwab will expand its cryptocurrency offerings to include new tokens, as well as enabling transfer features for deposits and withdrawals, when technical and regulatory considerations are resolved.
Charles Schwab Corporation, headquartered in Westlake, Texas, is one of the largest brokerage firms in the United States, offering investment, banking, and financial advisory services to millions of retail and institutional clients. Paxos, founded in 2012, specializes in regulated blockchain technology solutions for enterprises, providing asset custody, settlement, and crypto brokerage services for global partners.
Schwab described its new service as a response to growing investor interest in a reliable, regulated way to gain crypto exposure, stating that Schwab Crypto is designed to combine traditional brokerage strength with a secure digital asset experience.
