Charles Schwab is moving deeper into digital assets with the launch of Schwab Crypto, a new service that will allow U.S. retail brokerage clients to trade spot bitcoin and ether directly from the broader Schwab ecosystem. The offering is being introduced in phases and is priced at 75 basis points per trade, a level the company describes as among the lowest available for direct crypto trading at a major brokerage.
The significance of the rollout lies less in the novelty of crypto trading itself and more in where it is happening. Schwab is integrating access to digital assets into the same general environment where many investors already manage stocks, bonds, exchange-traded products, and other traditional holdings. For a large incumbent brokerage, this marks another step in bringing crypto into mainstream portfolio construction rather than treating it as a separate, specialist activity.
Bitcoin and Ether Come First
At launch, Schwab Crypto will support trading in bitcoin and ether. According to the company, those two assets together represent roughly three-quarters of total crypto market capitalization. That makes the initial asset selection both conservative and commercially practical: Schwab is beginning with the two most established cryptocurrencies before considering a wider expansion.
The service will be accessible through a separate crypto account linked to a client’s existing Schwab brokerage relationship. That structure allows the firm to add digital asset functionality while keeping the experience connected to the broader Schwab account framework many customers already use for conventional investing.
Schwab said the rollout will begin in the coming weeks. The phased approach suggests the firm is prioritizing operational control, customer onboarding, and support readiness as it opens the product to a broad retail base.
Custody and Execution Framework
The crypto account will be offered through Charles Schwab Premier Bank, SSB, which will serve as custodian for customer digital assets. For market infrastructure, Schwab has partnered with Paxos, an OCC-regulated blockchain infrastructure provider that will handle sub-custody and trade execution.
That arrangement is notable because it reflects how traditional financial firms are entering crypto: not by building every component internally from scratch, but by combining their client relationships, brand trust, and front-end distribution with specialized infrastructure providers that already operate in regulated digital asset markets.
Joe Vietri, Head of Digital Assets at Charles Schwab, said Paxos was selected because of its regulatory standing and digital asset expertise. In practice, that means Schwab is leaning on a partner with an established role in the crypto infrastructure stack while presenting customers with a familiar Schwab-branded interface and service model.
Available Across Schwab Platforms
Clients will be able to access Schwab Crypto through Schwab.com, the Schwab Mobile app, and thinkorswim, the firm’s trading platform. Schwab also said users will receive 24/7 phone and chat support from company service professionals.
This distribution matters. Crypto availability on a dedicated exchange is one thing; crypto availability across a household-name brokerage website, mobile app, and active trader platform is another. It lowers the friction for existing Schwab customers who may want digital asset exposure but prefer not to open and fund accounts at separate crypto-native firms.
It also aligns with a broader investor preference for account consolidation. Rather than splitting portfolios across multiple providers, many users want a single destination where they can view and manage traditional securities alongside crypto positions.
Why Schwab Thinks the Timing Works
Schwab pointed to internal research conducted between July and September 2025 among 460 current and prospective crypto investors. According to the company, three factors stood out when respondents considered where to trade crypto: low and transparent pricing, brand familiarity, and confidence in asset security.
Those findings help explain the product design. The pricing is straightforward. The brand is already well known among U.S. investors. And the custody-plus-infrastructure setup is being framed around trust, regulated service providers, and operational support. In other words, Schwab is not trying to compete primarily on token breadth or crypto-native features at launch; it is competing on convenience, credibility, and integration with existing financial life.
Jonathan Craig, Head of Retail Investing at Charles Schwab, said clients have made it clear that they want to do more of their financial lives at Schwab. The company’s answer is to let them trade crypto alongside other assets without having to switch firms.
Pricing as a Competitive Lever
Schwab’s stated fee of 75 basis points per trade is central to the launch narrative. The company described that pricing as among the lowest in the industry for direct crypto trading at a major brokerage. For investors comparing mainstream financial institutions rather than crypto-native exchanges, pricing can be a meaningful differentiator—especially if the perceived safety and convenience of a well-known brokerage reduces the need to seek marginally lower fees elsewhere.
In the retail market, however, cost is only one side of the equation. Investors also evaluate spreads, execution quality, custody arrangements, account functionality, and whether they can move assets on and off platform. Schwab appears aware of this, which is why the company is already discussing additional capabilities beyond the initial launch phase.
More Assets and Transfer Features Planned
Schwab said it intends to expand the platform over time by adding more cryptocurrencies and introducing transfer capabilities for deposits and withdrawals. That future feature set would allow clients to move existing digital asset holdings into Schwab, making the platform more useful not only for new buyers but also for investors who already own crypto elsewhere.
Transfer functionality is especially important if the firm wants to become a primary home for customer crypto balances rather than simply a venue for fresh purchases. Without transfer support, a brokerage crypto product can remain somewhat siloed. With transfer support, it begins to resemble a fuller-service digital asset account integrated into a larger wealth platform.
Part of a Broader Digital Asset Push
Schwab emphasized that it is not entering digital assets from zero. The firm said its clients already hold approximately 20% of spot crypto exchange-traded products. Existing avenues of crypto exposure at Schwab include spot crypto ETPs, crypto futures, options on spot crypto ETPs, and crypto-related mutual funds.
That context is important. Direct spot crypto trading is a new addition, but it sits on top of an investor base that has already been participating in the asset class through regulated wrappers and derivatives. In that sense, Schwab Crypto may be less of a dramatic pivot and more of a logical next step in product development.
The launch also reflects a larger industry trend: major traditional brokerages and financial institutions are increasingly responding to sustained client demand for direct digital asset access. As the infrastructure, regulatory pathways, and customer expectations around crypto continue to mature, the line between traditional investing platforms and digital asset platforms keeps narrowing.
Mainstream Access, Familiar Wrapper
For Schwab, the strategic pitch is clear. Whether a client is completely new to crypto or already owns digital assets, the firm wants to offer a single destination where those holdings can sit alongside a broader portfolio. That message is likely to resonate most strongly with investors who value account simplicity, established service channels, and a recognizable institution over the broader token menus often found at crypto-native venues.
By starting with bitcoin and ether, using regulated infrastructure partners, and embedding trading into familiar brokerage workflows, Schwab is positioning crypto not as a fringe product but as another investable category inside a standard retail account experience.
If adoption is strong, the rollout could reinforce a broader shift in U.S. markets: digital assets becoming a routine component of mainstream brokerage offerings rather than a separate corner of finance. For now, Schwab Crypto begins with the two largest cryptocurrencies, a fee structure built around transparency, and a roadmap that points toward broader asset support and asset transfer functionality in the future.