Charles Schwab has started rolling out cryptocurrency trading to retail clients, marking a major step by a traditional U.S. brokerage into the spot digital asset market. The company said selected customers can now trade Bitcoin and Ethereum directly through Schwab Crypto accounts, as established financial firms race to meet growing demand for regulated crypto investing.
The phased launch gives Schwab clients access to crypto trading alongside stocks and other investments on the same platform. However, the service will not launch in New York and Louisiana because of stricter state licensing rules. The move also places Schwab among the largest traditional finance firms expanding deeper into digital assets as regulatory clarity slowly improves in the United States.
Schwab expands digital asset push
The update follows an earlier announcement where Schwab said that it launched the service through Charles Schwab Premier Bank, while Paxos manages custody, settlement, and trade execution behind the platform. Crypto assets will sit in separate Schwab Crypto accounts rather than standard brokerage portfolios, matching how most regulated digital asset platforms structure customer holdings.
The company charges a flat 0.75% fee for each crypto trade. Schwab also included research tools, educational content, market updates, and 24-hour customer support as it targets both first-time and experienced crypto investors.
Joe Vietri, Schwab’s head of digital assets, said the firm aims to become “the destination of choice” for retail investors entering crypto markets. Meanwhile, Head of Retail Investing Jonathan Craig said clients can now access digital assets without leaving Schwab’s broader investment platform.
Regulation and market conditions drive expansion
The launch follows months of internal testing as U.S. regulators move closer toward clearer rules for digital assets. Schwab previously said it plans to expand the platform with additional cryptocurrencies and future transfer features for deposits and withdrawals.
The rollout also comes as policymakers debate broader crypto legislation in Washington. Legal analyst Bill Hughes recently said the proposed CLARITY Act could pull trading activity away from offshore exchanges by creating clearer rules for digital asset platforms operating in the United States.
Schwab enters the crypto market with significant financial scale. The company managed $11.77 trillion in client assets as of March 2026 and reported 39.1 million active brokerage accounts. First-quarter adjusted net income also climbed 38% from a year earlier to $2.6 billion.
Expansion occurs in an unstable time for financial markets. Investors are still dealing with uncertainties associated with AI disruption, private credit market stress, and geopolitical concerns surrounding the U.S.-Israel conflict with Iran.
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