Charles Schwab is moving into crypto custody and trading with a cautious-but-ambitious play: “Schwab Crypto” will let eligible clients buy and sell Bitcoin and Ethereum directly from within the Schwab ecosystem, the firm confirmed.
What’s launching
- At launch Schwab Crypto will support direct trading of BTC and ETH — which Schwab notes together make up roughly three-quarters of total crypto market capitalization — with plans to add more tokens over time.
- The platform will also support deposits and withdrawals, so clients can transfer digital assets held elsewhere into Schwab and manage them alongside their brokerage and bank accounts.
Education and research focus
Schwab is positioning education and research as a core differentiator. The company will roll out digital-asset learning resources from the Schwab Center for Financial Research and crypto-focused content through Schwab Coaching. The stated aim is to help investors understand how digital assets might fit into broader portfolio strategies instead of treating crypto as an isolated silo.
Pricing and target users
Schwab says pricing will be competitive — charging 75 basis points (0.75%) on the dollar value of each trade — and is pitching the service to two groups: newcomers who want to buy crypto through a trusted institution, and existing crypto holders who want to consolidate and manage digital assets with greater convenience and Schwab’s operational backing. “Our goal is to give investors access to well-known cryptocurrencies through an all-in-one investing and banking experience,” said Joe Vietri, Head of Digital Assets at Charles Schwab. Jonathan Craig, Head of Retail Investing, added that Schwab Crypto is intended as a destination for retail clients seeking direct exposure while retaining Schwab’s research and service capabilities.
How it will work operationally
- Schwab clients will have a separate Schwab Crypto account offered by Charles Schwab Premier Bank (CSPB), linked directly to their brokerage accounts.
- CSPB will serve as custodian for clients’ digital assets, responsible for safekeeping and record-keeping.
- For sub-custody and trade execution Schwab selected Paxos, a U.S.-regulated blockchain infrastructure provider. Schwab says Paxos will deliver those services via a federally overseen trust model and enterprise-grade technology.
Market snapshot
At the time of reporting, Bitcoin traded near $74,900 — up roughly 4.5% over the past week — though that bounce ran into resistance near $76,000, which Schwab notes as the nearest technical hurdle.
Why it matters
Schwab’s move formalizes a mainstream-brokerage path into crypto that bundles trading, custody, education and account integration. For retail investors who want to hold crypto without adding multiple custodians or third-party apps, Schwab Crypto promises a familiar interface and institutional-grade plumbing — and potentially more token options down the road.
Image: OpenArt. Chart: TradingView.com.
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