Charles Schwab begins offering spot crypto trading services to US retail clients

Odaily reported that U.S. financial services giant Charles Schwab has begun a phased rollout of its "Schwab Crypto" service to eligible retail clients in the United States, allowing users to directly trade Bitcoin and Ethereum.

According to official information, users can view and manage their crypto assets directly through their existing Schwab accounts. Custody is handled by Charles Schwab Premier Bank, with Paxos providing the underlying custody and trade execution services.

The platform charges a trading fee of 0.75% of the transaction amount and currently does not support deposits or withdrawals from external wallets. Additionally, the service is not yet available to residents of New York State or Louisiana.

Charles Schwab currently manages approximately $12 trillion in client assets, and its clients already hold about 20% of the asset share in U.S. spot crypto ETFs. (FinanceFeeds)