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Charles Schwab has introduced Schwab Crypto, a spot trading service for Bitcoin and Ethereum designed for retail investors. The rollout will begin in phases over the coming weeks, starting with access to the two largest digital assets by market capitalization.
Schwab Crypto spot trading will initially support direct spot trading in Bitcoin and Ethereum for retail clients. The firm said the service is expected to expand gradually across Schwab’s existing user base over the coming weeks.
According to Schwab’s release, Bitcoin and Ethereum account for roughly three-quarters of the total cryptocurrency market capitalization. Schwab said this focus targets the most liquid and widely held digital assets at launch.
Schwab Crypto will charge 75 basis points per trade. The fee model applies to the dollar value of each executed transaction, placing the service within a competitive but premium brokerage pricing structure.
Schwab Crypto accounts will operate separately from traditional brokerage holdings while remaining linked within the same ecosystem. Clients will access crypto through Schwab Crypto, issued via Charles Schwab Premier Bank, which will act as custodian for digital assets, managing safekeeping and record-keeping responsibilities.
Paxos, described as an OCC-regulated blockchain infrastructure provider, will handle sub-custody and trade execution. Schwab characterized the partnership as a regulated model intended to support institutional-grade digital asset operations.
Schwab said it has integrated crypto trading into its brokerage ecosystem alongside existing investment tools. Clients will be able to access Schwab Crypto through Schwab.com, the firm’s mobile apps, and thinkorswim.
Schwab cited an investor survey of nearly 500 respondents that highlighted demand for low fees, brand trust, and secure custody. Schwab said these factors influenced the design of the Schwab Crypto offering and rollout strategy.
Schwab also indicated that future updates are expected to include additional cryptocurrencies and transfer capabilities for deposits and withdrawals.
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