Key Highlights
- Charles Schwab has expanded Schwab Crypto account access to all eligible retail clients following a limited rollout that began in May 2026.
- Customers can buy and sell Bitcoin and Ethereum through dedicated crypto accounts alongside their traditional brokerage investments.
- Paxos provides custody, trade execution, and settlement infrastructure, while crypto holdings remain separate from standard brokerage assets.
Charles Schwab, an American multinational financial services company, has expanded access to its Schwab Crypto accounts, making the service available to eligible retail clients following a limited rollout earlier this year.
In an X post on October 16, the company said customers could use the accounts to buy and sell cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), alongside their traditional brokerage investments.
The expansion follows a phased introduction that began in May, when the firm started offering the service to a limited group of customers. The company had previously outlined plans to gradually extend access over subsequent weeks.
Account structure and trading features
As reported earlier by The Crypto Times, Schwab Crypto accounts operate separately from standard brokerage accounts. Crypto holdings remain in dedicated accounts rather than being held as conventional brokerage assets. Paxos provides the regulated custody, execution, and settlement infrastructure. The service runs through Charles Schwab Premier Bank.
Eligible clients can trade Bitcoin and Ethereum directly through the platform. The firm has indicated plans to add more cryptocurrencies later, along with deposit and withdrawal transfer capabilities. The company charges a flat fee of 0.75% per crypto transaction. The service is available across most U.S. states, except New York and Louisiana, where state-level licensing requirements currently prevent Schwab from offering it.
Wider rollout follows May launch
Joe Vietri, Head of Digital Assets at Charles Schwab, previously described the firm’s objective as becoming a destination for retail investors seeking to include digital assets in their portfolios. The service also includes educational materials, market information, and customer support available around the clock.
The May rollout marked a move by a major traditional brokerage into spot cryptocurrency trading. Selected clients were initially able to trade Bitcoin and Ethereum through Schwab’s platform, extending access to digital assets within its existing financial services offering.
The latest expansion extends access beyond that initial group to a broader pool of eligible retail clients. However, Schwab has not disclosed how many customers have opened accounts or how much trading activity the service has generated since its launch.
Availability and operational details
Eligible retail clients can now open and fund Schwab Crypto accounts, although the service remains unavailable to residents of New York and Louisiana.
Schwab has not announced a timeline for adding other cryptocurrencies or introducing deposit and withdrawal transfer features. The company has also not disclosed any changes to the 0.75% transaction fee.
The wider rollout expands Schwab’s spot crypto offering, but its availability remains subject to state-level restrictions and the company’s eligibility requirements.
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