Charles Schwab has unveiled Schwab Crypto, a new service that will allow retail clients to trade spot bitcoin (BTC) and ether (ETH). The brokerage said the rollout will begin in phases over the coming weeks, bringing direct crypto trading into the broader Schwab investing environment used for stocks, bonds, and other traditional assets.
Crypto trading added alongside traditional brokerage services
According to the company, clients will access the offering through a separate crypto account linked to their existing brokerage relationship. That account will be provided by Charles Schwab Premier Bank, SSB, which will serve as custodian for customer digital assets. Blockchain infrastructure firm Paxos, which is regulated by the U.S. Office of the Comptroller of the Currency (OCC), will handle sub-custody and trade execution.
The service will be available through Schwab.com, the Schwab Mobile app, and the thinkorswim trading platform. Schwab also said clients will have access to 24/7 phone and online chat support. Joe Vietri, the firm’s head of digital assets, said Paxos was selected for its regulatory standing and digital asset expertise.
BTC and ETH first, more assets and transfers planned later
At launch, Schwab Crypto will support only BTC and ETH. Schwab said the two assets together account for roughly three-quarters of the total crypto market capitalization, making them a practical starting point for the platform. The company plans to expand the offering over time by adding more cryptocurrencies and introducing deposit and withdrawal transfer features, allowing clients to move existing digital asset holdings into Schwab.
Jonathan Craig, Schwab’s head of retail investing, said clients have made it clear they want to manage more of their financial lives with the firm. The new platform is designed to let investors hold and trade crypto without having to leave their primary brokerage provider.
75 bps pricing targets transparency and trust
Schwab will charge 75 basis points per trade. The company said that rate is among the lower fee levels for direct crypto trading offered by major brokerages. In a survey conducted between July and September 2025 among 460 current and prospective crypto investors, Schwab found that the top three platform-selection factors were low and transparent pricing, brand recognition, and confidence in asset security.
Schwab added that it already has a notable presence in digital asset investing. Its clients currently hold about 20% of spot crypto exchange-traded products (ETPs), according to the company. Existing crypto-related access points include spot crypto ETPs, crypto futures, options on spot crypto ETPs, and crypto-focused mutual funds. With Schwab Crypto, the brokerage is taking a further step toward integrating digital assets into mainstream retail investing.