Charles Schwab is preparing a phased rollout of spot cryptocurrency trading for its U.S. retail brokerage customers through a new offering called Schwab Crypto. At launch, the platform will support bitcoin and ethereum trading, with a fee of 75 basis points per transaction. The service is expected to begin rolling out in the coming weeks, allowing clients to access crypto within Schwab’s broader investment ecosystem rather than moving to a separate platform.
Crypto Trading Inside the Existing Brokerage Experience
Schwab said the new service is designed to let customers trade digital assets alongside stocks, bonds, and other traditional investments. Access will be provided through a separate crypto account linked to an existing brokerage account. That account will be offered through Charles Schwab Premier Bank, SSB, which will serve as the custodian for customer digital assets.
The company plans to make Schwab Crypto available across Schwab.com, the Schwab Mobile app, and thinkorswim. Clients will also receive 24/7 phone and chat support from Schwab service specialists. Jonathan Craig, head of retail investing at Charles Schwab, said customer demand has clearly pointed toward doing more of their financial activity in one place, and the new product is intended to meet that expectation.
Paxos Chosen for Execution and Sub-Custody
For infrastructure support, Schwab is working with Paxos, a blockchain infrastructure provider regulated by the U.S. Office of the Comptroller of the Currency. Paxos will handle sub-custody and trade execution for the platform. Joe Vietri, head of digital assets at Charles Schwab, described Paxos as a strong partner because of its regulatory positioning and expertise in digital assets.
Schwab also pointed to survey findings gathered between July and September 2025 from 460 current and prospective crypto investors. According to the firm, the three most important factors in choosing a crypto trading provider were low and transparent fees, brand familiarity, and confidence that assets would be held safely. Those priorities appear to be central to how Schwab has structured the initial launch.
More Assets and Transfer Features Planned
At the start, Schwab Crypto will only offer bitcoin and ethereum, which the company said represent roughly three-quarters of the total cryptocurrency market capitalization. Over time, however, Schwab intends to add more digital assets and introduce transfer capabilities for deposits and withdrawals, making it possible for clients to move existing crypto holdings into the Schwab environment.
Before this direct spot trading launch, Schwab already had meaningful exposure to the digital asset segment through investment products. The company said its clients currently hold about 20% of spot crypto exchange-traded product exposure. Existing access points already include spot crypto ETPs, crypto futures, options on spot crypto ETPs, and crypto-related mutual funds. With Schwab Crypto, the brokerage is moving further from indirect exposure into direct participation in the spot crypto market.
Schwab said its 75-basis-point fee is positioned among the lower-priced offerings for direct crypto trading at a major brokerage firm. For investors seeking to manage digital assets within the same portfolio framework as traditional investments, the move could mark another step in bringing cryptocurrency deeper into mainstream brokerage channels.