TL;DR
- Charles Schwab will offer spot trading for BTC and ETH directly from standard accounts, with no need for external exchanges or additional wallets.
- It plans to launch its own stablecoin after final approval of the GENIUS Act to boost liquidity and expand financial services.
- With $25 billion already exposed to crypto, it aims to capture the 1–2% of wealth that clients still hold outside its platform.
Charles Schwab has announced that it will soon offer spot trading for Bitcoin and Ethereum, marking its direct entry into the cryptocurrency market.
CEO Rick Wurster confirmed on CNBC that clients will be able to buy and sell both assets directly from their regular accounts, without relying on third-party platforms. Schwab wants to make it easier for existing investors to consolidate their crypto holdings alongside their traditional savings.
The firm also plans to issue its own stablecoin once the GENIUS Act receives final approval following its passage in the U.S. House of Representatives. Wurster explained that the token will help provide additional liquidity and expand services for clients seeking alternatives to fiat currencies.
Schwab Wants Clients to Rely Solely on Its Platform
Currently, over 20% of all crypto-linked investment products are held in Schwab accounts. That adds up to about $25 billion within the firm’s $10.8 trillion portfolio. Many clients already keep 98% of their assets at Schwab and use crypto platforms for just 1–2% of their wealth. The goal is to bring that remaining portion back under Schwab’s roof, allowing clients to manage everything in one place.
Schwab closed Q2 2025 with strong results: net income rose nearly 60% year-over-year to more than $2 billion, while total revenue increased 25% to $5.8 billion. The performance reflected solid numbers in trading, net interest income, and asset management fees.
The announcement pushed Schwab’s stock to a record high, along with shares of Coinbase. Wurster emphasized that unifying crypto and traditional assets gives clients a complete view of their finances while simplifying account management across platforms.
The firm is aiming to provide an all-in-one user experience. Its goal is to turn the platform into a single hub where traditional instruments and new digital solutions coexist, delivering simplicity and trust in every transaction
