$11.77 Trillion Brokerage Giant Charles Schwab Launches Spot Bitcoin Trading Platform
Charles Schwab now offers spot Bitcoin trading to retail clients in the US via its new Schwab Crypto platform.Summary
Charles Schwab, a brokerage firm managing $11.77 trillion in client assets, has launched a spot Bitcoin trading platform for its retail clients in the United States. This new platform, Schwab Crypto, allows eligible customers to buy and sell Bitcoin directly within Schwab's existing brokerage ecosystem, moving beyond indirect investment products like ETFs and futures. Charles Schwab Premier Bank will serve as custodian, with Paxos handling trade execution and sub-custody. The service incurs a 75-basis-point trading fee and is available in most U.S. states, excluding New York and Louisiana. This move signifies a broader trend of traditional financial institutions integrating digital assets into their offerings, driven by increased demand and regulatory clarity, following the approval of spot Bitcoin ETFs and growing institutional adoption.
(Source：Bitcoin Magazine)