Charles Schwab Launches Spot Crypto Trading for Millions of US Clients

Charles Schwab has begun a phased rollout of spot cryptocurrency trading across its US brokerage platform. The service integrates digital asset access directly into existing investment accounts within a single brokerage environment.

The offering supports Bitcoin and Ethereum, allowing clients to buy and sell alongside stocks, bonds, and ETFs without opening separate exchange accounts. All activity is managed within the same brokerage interface.

How Schwab’s Crypto Trading System Operates

No separate exchange account is required for access to crypto markets under Schwab’s new trading structure. The service sets fees at around 75 basis points per trade, positioning it within the lower cost segment of traditional brokerage offerings in digital asset markets.

Client assets are custodied through Charles Schwab Premier Bank, while Paxos handles execution and sub-custody under a regulated infrastructure. This setup is designed to support compliant settlement at the institutional level.

The platform is available through Schwab’s website, mobile app, and thinkorswim terminal, providing unified access across devices. Phone and chat support will be available around the clock, while crypto deposits and withdrawals will remain limited at launch to maintain a controlled operational rollout.

What Users Can Expect at Launch

Users must purchase assets directly within Schwab accounts at launch, as external transfers are not yet supported during the initial rollout phase. Access is also limited in certain regions, with New York and Louisiana excluded due to regulatory and operational requirements.

Expansion plans include adding additional cryptocurrencies and enabling transfer functionality later this year as infrastructure develops across the platform. The rollout is designed to scale gradually across products and services over time.

Schwab already holds a significant share of spot crypto ETF activity among clients, reflecting strong engagement through regulated investment channels. A recent survey also indicates that users prioritize pricing, trust, and security when selecting crypto access through traditional financial platforms. The firm serves tens of millions of brokerage accounts across its global client base.

The launch reflects growing demand for crypto access within traditional finance platforms as institutions expand digital asset offerings and market alignment.