Charles Schwab Begins Offering Spot Crypto Trading Services to U.S. Retail Clients
Odaily Financial services giant Charles Schwab has begun a phased rollout of its "Schwab Crypto" service to eligible U.S. retail clients, 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 provided by Charles Schwab Premier Bank, while Paxos handles the underlying custody and trade execution services.
The platform charges a trading fee of 0.75% of the transaction amount per trade and currently does not support deposits or withdrawals from external wallets. Additionally, the service is not yet available to residents of New York and Louisiana.
Charles Schwab currently manages approximately $12 trillion in client assets, and its clients already hold about a 20% share of U.S. spot crypto ETF assets. (FinanceFeeds)
