Charles Schwab has expanded Bitcoin and Ether trading to all eligible retail clients and plans to add Solana, Avalanche and Chainlink by the end of 2026. CEO Rick Wurster announced the expansion during the brokerage’s third-quarter earnings call on October 16.
The $13 trillion brokerage is expanding its cryptocurrency services as traditional financial firms increase their presence in digital assets.
Schwab Broadens Crypto Access
Schwab began rolling out spot cryptocurrency trading in April, initially limiting access to selected customers. Paxos provides custody, trade execution and settlement services for the platform.
Related: Deutsche Bank Expands Crypto Push With Bitcoin and Ethereum Custody
The service currently offers Bitcoin and Ethereum trading at a flat fee of 0.75% per transaction. However, residents of New York and Louisiana cannot access the service because of state licensing restrictions.
Schwab also plans to let clients transfer existing cryptocurrency holdings into its platform. The company has not announced a specific launch date for the transfer feature.
Crypto and Prediction Markets Drive Revenue
Schwab is also exploring prediction markets as another potential source of transaction-based revenue. Wurster cited “things like crypto, things like prediction markets” as areas where the company sees opportunities to expand its business.
The planned listings would add Solana, Avalanche and Chainlink to Schwab’s existing Bitcoin and Ethereum offerings. However, the brokerage has not provided specific launch dates for the three cryptocurrencies.
The expansion comes as Schwab broadens its digital asset services for eligible retail investors.
Related: Prediction Markets Move Into Familiar Financial Apps as KuCoin Expands Access to Polymarket
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