Brokerage Giant Charles Schwab Rolls Out Spot Crypto Trading To Retail Investors
Charles Schwab has officially launched its spot crypto trading platform, Schwab Crypto, to a select group of retail investors in the US, excluding New York and Louisiana. The service allows direct trading of Bitcoin (BTC) and Ethereum (ETH) with a 75-basis-point fee, linked to clients' brokerage accounts. Schwab Premier Bank will serve as custodian, with Paxos handling trade execution. The firm plans to add more assets and transfer capabilities. This move expands Schwab's offerings beyond indirect crypto investment products. It follows a trend of major institutions entering the space, as Morgan Stanley also recently launched a crypto trading pilot on its E*Trade platform with a 50-basis-point fee, aiming for wider rollout later this year.
bitcoinist05/14 11:50
