Schwab Wealth Management Announces Details of Its Spot Cryptocurrency Trading Service

Charles Schwab has announced the launch of its Schwab Crypto spot cryptocurrency trading platform, which is expected to be rolled out to retail clients in stages over the coming weeks. Retail clients can use the platform to access the investment, research, education, and financial planning services provided by Charles Schwab.

Schwab Crypto introduction

Retail investors can trade two major cryptocurrencies directly on Schwab Crypto: Bitcoin BTC and Ether ETH. Through Schwab.com, the mobile app, and the thinkorswim® trading platform, users can view both traditional securities and digital assets side by side, improving the convenience of asset allocation and providing a simpler and more intuitive account experience. The Schwab Center for Financial Research provides analytical data to help investors evaluate long-term investment strategies for digital assets.

How Charles Schwab’s cryptocurrency accounts work

In light of investors’ focus on asset security and brand reputation, Charles Schwab uses an operating model with independent accounts and professional role separation. Clients must open a cryptocurrency account linked to their brokerage account, with Charles Schwab Premier Bank (SSB) serving as the custodian and responsible for recording the security of assets. In addition, the bank partners with Paxos, a blockchain infrastructure provider regulated by the U.S. Office of the Comptroller of the Currency (OCC), which handles sub-custody and trade execution. This structure, which incorporates a federally regulated trust model, is intended to establish an enterprise-grade technological line of defense and address market concerns about the security of digital asset storage.

Charles Schwab’s head of digital assets, Viteri, said Paxos is a strong partner in blockchain infrastructure; their regulatory credentials and expertise in digital assets will help Charles Schwab deliver the experience its clients expect. Through Charles Schwab’s cryptocurrency platform, investors can access education, tools, and investment resources to help them make decisions.

Charles Schwab charges a fee of 75 basis points per transaction. According to a survey conducted by Charles Schwab from July to September 2025 among roughly 460 investors, price transparency and brand awareness were the top considerations when choosing a trading platform. Through a competitive fee structure, the firm aims to attract retail clients seeking low trading costs. The current product lineup already includes spot cryptocurrency exchange-traded products (ETPs), futures, options, and related index exchange-traded funds.

At this stage, the platform will focus on trading Bitcoin and Ether. In the future, it plans to gradually add support for additional types of cryptocurrencies, open account deposit and withdrawal transfer functionality, and allow clients who already hold digital assets to transfer external assets into the platform.

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