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

Odaily Planet Daily News: Jalina Kerr, head of the Charles Schwab advisor experience, stated that the company plans to launch cryptocurrency spot trading functionality for financial advisors on its custody platform in 2027. The project is currently progressing smoothly, and the launch date is expected to be around mid-2027.

Kerr said that Charles 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 financial advisors currently prefer to allocate crypto assets for clients through exchange-traded products (ETPs). However, interest in spot trading services has been rising recently. Competitor Fidelity already offers crypto asset custody and trading services to wealth management advisors.