Good News for Schwab Customers Into Crypto
Newser • • business
Key Points:
- Charles Schwab is launching "Schwab Crypto," allowing customers to trade bitcoin and ethereum directly within their brokerage accounts, with a 0.75% fee per trade.
- The digital assets will be safeguarded by Paxos in accounts separate from clients’ regular brokerage holdings, providing added security.
- This move aligns Schwab with competitors like Robinhood, Coinbase, and Kraken, which already offer integrated stock and crypto trading services.
- The launch reflects a broader Wall Street trend toward digital assets, with firms like Goldman Sachs, Morgan Stanley, and Fidelity expanding their crypto offerings.
- Despite the announcement, Schwab’s shares fell 5% due to weaker-than-expected Q1 revenue, and the company plans to introduce AI tools for investors in the coming months.
