Schwab plans to launch cryptocurrency spot trading services for financial advisors in 2027

Odaily Odaily Planet Daily News Schwab's Head of Advisor Experience, Jalina Kerr, stated that the company plans to introduce cryptocurrency spot trading functionality for financial advisors on its custody platform by 2027. The project is currently progressing smoothly, with the expected launch time likely near mid-2027.

Kerr noted that Schwab has already opened spot trading for Bitcoin and Ethereum to retail clients this year. Since digital assets do not yet have a unified regulatory framework like traditional securities products, every step from fund deposits to withdrawals requires careful design.

She pointed out that currently, financial advisors prefer to allocate crypto assets for clients through exchange-traded products (ETPs). However, recent interest in spot trading services is on the rise. As a competitor, Fidelity already offers crypto asset custody and trading services to wealth management advisors.