Charles Schwab, one of the largest brokerage firms in the United States, has announced further details and plans to launch direct spot Bitcoin trading through its new platform, Schwab Crypto™. The initiative marks a significant step by a traditional financial heavyweight into the digital asset market, allowing retail clients to buy and sell Bitcoin and Ethereum directly from their existing Schwab accounts.
The feature will be rolled out in phases over the coming weeks. Clients will be able to trade Bitcoin and Ethereum — which together represent approximately three-quarters of the global cryptocurrency market capitalization — through Schwab's existing platforms. Schwab will charge a transaction fee of 75 basis points on the dollar value of each trade, positioning 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.
Blockchain infrastructure provider Paxos will handle sub-custody and trade execution under a federally regulated trust structure. Paxos, a New York–based company overseen by the Office of the Comptroller of the Currency (OCC), already provides custody services for several global financial institutions seeking regulated access to digital assets.
Platform Integration and Client Experience
Schwab Crypto will be integrated 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. “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.”
Schwab's Digital Asset Strategy
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. Schwab already holds a strong presence in the digital asset ecosystem, with clients owning roughly 20 percent of spot crypto exchange-traded products. Previously, clients could only gain indirect crypto exposure through ETFs, mutual funds, and futures tied to cryptocurrency benchmarks. The new spot trading feature directly addresses this gap.
Competitive Landscape and Industry Impact
Schwab's entry into spot crypto trading positions it alongside firms such as Coinbase, Robinhood, and Webull, which have long provided retail access to major digital currencies. With its massive retail client base and competitive fee structure, Schwab is poised to capture significant market share. This launch is the latest example of traditional financial institutions accelerating their embrace of digital assets as regulatory frameworks become clearer, pushing cryptocurrencies further into the mainstream.