Charles Schwab Launches Spot Bitcoin and Ether Trading

TLDR

• Charles Schwab will begin a phased rollout of Bitcoin and Ether trading for retail clients in the coming weeks.
• The company will offer spot trading in Bitcoin and Ether through its new Schwab Crypto platform.
• Clients will pay 0.75% of the dollar value for each cryptocurrency trade.
• Schwab Crypto accounts will link directly to existing brokerage accounts for integrated access.
• Charles Schwab Premier Bank SSB will serve as custodian for clients’ digital assets.

Charles Schwab will soon allow retail clients to trade Bitcoin and Ethereum directly through a new service. The company confirmed a phased rollout in the coming weeks through its Schwab Crypto offer. The launch adds spot crypto trading to Schwab’s existing brokerage and banking platform.

Charles Schwab launches Bitcoin trading access for retail clients

Charles Schwab will provide direct spot trading in Bitcoin through Schwab Crypto. The firm will roll out access to retail clients in phases over the coming weeks. Clients will trade bitcoin alongside stocks and other assets on Schwab.com, Schwab Mobile, and thinkorswim. The company set pricing at 75 basis points on the dollar value of each trade.

Jonathan Craig, Head of Retail Investing at Charles Schwab, outlined the goal behind the launch. He said, “We know our clients want to conduct more of their financial lives at Schwab.” He added, “With Schwab Crypto, clients who want direct access to the asset class can trade it alongside their other investments.” Craig also said clients will benefit from service, education, and research.

Schwab Crypto will offer Bitcoin, which represents a large share of the total crypto market capitalization. The company said Bitcoin and Ethereum together account for about three-quarters of the crypto market value. Schwab will provide educational content and commentary through the Schwab Center for Financial Research. The platform will also include crypto-focused materials through Schwab Coaching®.

Clients will maintain a separate crypto account offered by Charles Schwab Premier Bank, SSB. This account will link directly to existing brokerage accounts for integrated access. Charles Schwab Premier Bank, SSB, will act as custodian for digital assets. The bank will handle safekeeping and record-keeping responsibilities.

Schwab will also provide 24/7 client support through phone and chat services. Thousands of service professionals will assist clients with crypto-related questions. The company said it will add transfer capabilities for deposits and withdrawals over time. Schwab plans to expand the list of supported cryptocurrencies in the future.

Charles Schwab expands digital asset offering with Ether trading

Charles Schwab will also enable direct spot trading in Ethereum at launch. Clients will access Ethereum through the same Schwab Crypto interface. The company confirmed that ETH will trade under the same 75 basis point fee structure.

Joe Vietri, Head of Digital Assets at Charles Schwab, described the service structure. He said, “With Schwab Crypto, investors can access familiar cryptocurrencies within an all-in-one investing and banking experience.” He added that the platform includes education, tools, and support to guide decisions.

Paxos will provide sub-custody and trade execution services for Schwab Crypto. Paxos operates as an OCC-regulated blockchain infrastructure provider. Schwab will rely on Paxos’ federally overseen trust model and enterprise-grade technology. Vietri said, “Paxos is a strong partner for blockchain infrastructure.”

Schwab stated that clients with existing digital assets will gain transfer capabilities in future updates. These features will allow deposits and withdrawals into Schwab Crypto accounts. The company confirmed that it will introduce more cryptocurrencies over time. The phased rollout will begin in the coming weeks for retail clients.

The post Charles Schwab Launches Spot Bitcoin and Ether Trading appeared first on CoinCentral.