"The company announced Tuesday that an initial group of eligible customers can now trade bitcoin through its new platform, Schwab Crypto. The launch gives retail investors direct access to digital assets inside Schwab's existing brokerage ecosystem, rather than through third-party exchanges or exchange-traded funds."
"The new platform allows customers to buy and sell spot bitcoin while maintaining a separate crypto account connected to their Schwab brokerage profile. Charles Schwab Premier Bank will act as custodian, while Paxos will handle trade execution and sub-custody services."
"According to Schwab's FAQ materials, the service carries a 75-basis-point trading fee and is available in every U.S. state except New York and Louisiana. The company said some clients may not qualify for access during the first phase of the rollout."
"The move places Schwab among a growing list of traditional financial firms expanding into digital assets after years of cautious engagement with the sector. The company reported $11.77 trillion in client assets and 39.1 million active brokerage accounts at the end of March, giving the launch potential reach across a large base of retail investors."
Charles Schwab has started offering spot bitcoin trading to eligible retail clients in the United States through a new platform called Schwab Crypto. The service provides direct access to bitcoin within Schwab’s brokerage ecosystem rather than through third-party exchanges or exchange-traded funds. Customers can buy and sell spot bitcoin while keeping a separate crypto account linked to their Schwab brokerage profile. Schwab Premier Bank acts as custodian, and Paxos handles trade execution and sub-custody services. The platform charges a 75-basis-point trading fee and is available in all U.S. states except New York and Louisiana, with some clients potentially excluded during the initial rollout phase.
Read at Bitcoin Magazine
Unable to calculate read time
Collection
[
|
...
]