Charles Schwab To Launch Spot Bitcoin Trading For Retail Clients

Authored by Micah Zimmerman via Bitcoin Magazine,

Charles Schwab announced further details and plans in their attempt to launch direct spot bitcoin trading through its new platform, Schwab Crypto, signaling a major step by one of the country’s largest brokerage firms into the digital asset market. 

The feature will roll out in phases over the coming weeks and will allow retail clients to buy and sell bitcoin and ethereum through existing Schwab platforms, the bank said. 

The move gives millions of Schwab clients the ability to trade bitcoin alongside traditional holdings such as stocks, ETFs, and mutual funds. Clients will access Schwab Crypto through Charles Schwab Premier Bank, SSB, which will act as custodian for the digital assets. 

Blockchain infrastructure provider Paxos will handle sub-custody and trade execution under a federally regulated trust structure.

“Clients want to conduct more of their financial lives at Schwab,” said Jonathan Craig, Head of Retail Investing.

“With Schwab Crypto, they can trade digital assets within their existing accounts while drawing on the service, research, and tools they rely on.”

At launch, Schwab Crypto will enable direct trading in bitcoin and ethereum, which together represent about three-quarters of global crypto market capitalization. 

Schwab will charge a transaction fee of 75 basis points on the dollar value of each trade, placing its pricing at the low end of the brokerage industry. Over time, the firm plans to add more cryptocurrencies and enable transfer capabilities for deposits and withdrawals.

Schwab said its platform will integrate digital assets across Schwab.com, the Schwab Mobile App, and the thinkorswim® trading suite. Clients will retain access to Schwab’s 24/7 customer service network, digital asset education through Schwab Coaching®, and research from the Schwab Center for Financial Research.

Charles Schwab is jumping into bitcoin

Joe Vietri, Head of Digital Assets at Schwab, described the launch as an extension of the firm’s broader digital strategy.

“Our goal is to be the destination of choice for retail investors who want to integrate digital assets into their portfolios with confidence,” Vietri said.

Paxos, a New York–based blockchain provider overseen by the Office of the Comptroller of the Currency, will supply the infrastructure that underpins the new trading offering. Its custody platform is already used by several global financial institutions seeking regulated access to digital assets.

Schwab already holds a strong presence in the digital asset ecosystem, with clients owning roughly 20 percent of spot crypto exchange-traded products.

The new feature expands Schwab’s reach beyond indirect crypto exposure through ETFs, mutual funds, and futures tied to cryptocurrency benchmarks.

The company’s entry into spot trading will position it alongside firms such as Coinbase, Robinhood, and Webull, which have long provided retail access to major digital currencies.