TLDR:
- Schwab Crypto launches spot Bitcoin and Ethereum trading in phased retail rollout across US clients
- Service charges 75 basis points per trade while integrating crypto into Schwab brokerage ecosystem
- Paxos provides OCC-regulated custody and execution infrastructure for Schwab Crypto trading system
- Schwab plans future expansion into additional cryptocurrencies and crypto transfer functionality support
Charles Schwab has introduced Schwab Crypto, a spot trading service for Bitcoin and Ethereum aimed at retail investors.
The rollout will begin in phases over the coming weeks, starting with access to the two largest digital assets by market capitalization. The firm is integrating crypto trading directly into its brokerage ecosystem alongside existing investment tools.
Schwab positions the service as a unified entry point for traditional and digital asset exposure.
Schwab Crypto spot trading rollout targets Bitcoin and Ethereum access
Schwab Crypto will initially support direct spot trading in Bitcoin and Ethereum for retail clients. The rollout is expected to expand gradually across Schwab’s existing user base over the coming weeks.
According to the company’s release, Bitcoin and Ethereum account for roughly three-quarters of the total cryptocurrency market capitalization. This focus places the service on the most liquid and widely held digital assets at launch.
The platform will charge 75 basis points per trade, positioning Schwab within a competitive but premium brokerage pricing structure. The fee model applies to the dollar value of each executed transaction.
A Schwab investor survey of nearly 500 respondents highlighted demand for low fees, brand trust, and secure custody. These factors influenced the design of the Schwab Crypto offering and rollout strategy.
Schwab Crypto custody structure and Paxos infrastructure partnership
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.
The bank will act as custodian of digital assets, managing safekeeping and record-keeping responsibilities. This structure keeps crypto holdings distinct while still integrated into the broader Schwab account environment.
Paxos, an OCC-regulated blockchain infrastructure provider, will handle sub-custody and trade execution. The partnership reflects a regulated model designed for institutional-grade digital asset operations.
Schwab has also integrated crypto trading with its existing platforms, including Schwab.com, mobile apps, and thinkorswim. Future updates are expected to include additional cryptocurrencies and transfer capabilities for deposits and withdrawals.
