Charles Schwab begins rolling out spot crypto trading services to US retail clients
Odaily Planet Daily News: U.S. financial services giant Charles Schwab has begun a phased rollout of its "Schwab Crypto" service to eligible U.S. retail clients, enabling 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 services are provided by Charles Schwab Premier Bank, while Paxos supplies the underlying custody and trade execution services.
The platform charges a trading fee of 0.75% per transaction and currently does not support deposits or withdrawals to external wallets. Furthermore, the service is not yet available to residents of New York State and 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)
