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

Odaily Planet Daily News: Charles Schwab's Head of Advisor Experience, Jalina Kerr, stated that the company plans to launch cryptocurrency spot trading functionality for financial advisors on its custody platform by 2027. The project is currently progressing smoothly, with the expected launch date likely 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, all aspects from fund deposits to withdrawals require careful design.

She pointed out that currently, financial advisors prefer to allocate crypto assets for clients through exchange-traded products (ETPs), but market interest in spot trading services has been rising recently. As a competitor, Fidelity has already provided crypto asset custody and trading services to wealth management advisors.