Financial services giant Charles Schwab has officially entered the direct crypto trading market by launching “Schwab Crypto” for select retail customers in the United States. The new platform lets eligible users trade Bitcoin and Ether directly, marking a major expansion of Schwab’s earlier crypto offerings.
Before this, Schwab customers could only get indirect exposure to crypto through exchange-traded funds and derivatives. The new platform changes that by allowing spot crypto trading directly within Schwab’s ecosystem.
According to the company, users will have separate crypto accounts through Schwab Crypto. Charles Schwab Premier Bank will handle custody services, while blockchain infrastructure company Paxos will manage trade execution and sub-custody operations. Schwab Crypto will charge a 0.75% fee per trade.
The service is currently unavailable in New York and Louisiana because of regulatory restrictions. Schwab also said that not every customer will automatically qualify for crypto trading access.
The launch shows that traditional financial institutions are becoming more comfortable with digital assets. Charles Schwab managed nearly $11.8 trillion in client assets as of March 2026 and reported strong financial growth in the first quarter of the year.
The company’s move into crypto could help boost mainstream adoption among retail investors who prefer trading with established financial brands.
Schwab Crypto™ accounts are now being rolled out to retail clients.
Starting today, the first group of clients can trade Bitcoin and Ethereum at Schwab, right alongside their other investments.
Sign up for updates and a chance to get early access: https://t.co/ELe1HWHS8Y pic.twitter.com/HJKbPUD7Ob
— Charles Schwab Corp (@CharlesSchwab) May 12, 2026
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