This Thursday, Charles Schwab completed the retail rollout for direct Bitcoin and Ethereum trading. During the company’s business update conference, its CEO, Rick Wurster, confirmed the enablement of crypto-asset transfers and pointed out that digital asset trading represents a strategic opportunity to diversify and expand the firm’s transactional revenue streams.
With a platform that custodies over $13.3 trillion in assets and serves 40 million accounts, the initiative introduces a massive traditional banking player as a direct competitor to native exchanges. The operation, managed alongside Paxos under strict custody and regulatory compliance protocols, allows clients to integrate cryptocurrencies alongside their standard portfolios of stocks and ETFs.
As a next strategic step, the firm will enable gradual deposits and withdrawals, while also projecting the addition of Solana (SOL), Avalanche (AVAX), and Chainlink (LINK) before year-end to consolidate its footprint in the sector.
Source: https://content.schwab.com/web/retail/public/about-schwab/schwab_fall_business_update_101526.pdf
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