Charles Schwab (NYSE:SCHW) has outlined the specifics of its new spot cryptocurrency trading platform, set to roll out gradually to individual investors in the coming weeks. The announcement, dated April 16, 2026, introduces Schwab Crypto as a dedicated offering that lets retail clients buy and sell digital assets directly while tapping into the brokerage’s established research, educational tools, customer service, and full suite of investing, trading, banking, and wealth management solutions.
The service will initially focus on Bitcoin and Ethereum, the two dominant cryptocurrencies that together make up about three-quarters of the total crypto market value.
Schwab plans to expand the selection of tradable coins over time. Investors will be able to monitor and execute crypto trades alongside stocks, bonds, and other holdings on a unified dashboard across Schwab.com, the mobile app, and the firm’s thinkorswim trading platform.
A mid-2025 survey of nearly 500 existing and prospective crypto users conducted by Schwab revealed that low and transparent costs, brand trust, and strong asset security rank as the top three priorities when choosing a trading partner.
The new platform directly addresses these preferences by combining competitive pricing with Schwab’s long-standing reputation and institutional-grade safeguards.
Pricing will rank among the industry’s lowest at 75 basis points (0.75 percent) of the dollar value of each trade.
Clients will also receive in-depth digital-asset education, including market insights from the Schwab Center for Financial Research and targeted content through Schwab Coaching to help them evaluate how cryptocurrencies might fit within a broader portfolio strategy.
Round-the-clock support from thousands of experienced service representatives via phone or chat will remain available.
Operationally, Schwab Crypto accounts will be held separately through Charles Schwab Premier Bank, SSB, a federally insured institution that serves as the primary custodian for digital assets.
Paxos, a regulated blockchain infrastructure provider overseen by the OCC, will handle sub-custody and trade execution using enterprise-grade technology and a federally supervised trust model.
Future enhancements include the ability to transfer existing crypto holdings in and out of Schwab accounts, allowing clients to consolidate digital assets with their traditional investments.
Eligibility is restricted to U.S. residents in all states except New York and Louisiana; the service will not be offered in U.S. territories or any international locations.
Not every applicant will qualify, and accounts may be limited or closed if an investor relocates to an unsupported jurisdiction.
Jonathan Craig, Schwab’s Head of Retail Investing, emphasized that the launch enables clients to manage more of their financial activities under one trusted roof, blending crypto access with the service and research they already rely on.
Joe Vietri, Head of Digital Assets, added that the platform delivers a familiar, integrated experience backed by education and tools, making it an appealing choice for both crypto newcomers seeking reliability and seasoned holders looking to centralize their portfolios.
Schwab reportedly ranks as a key player in digital assets, with clients controlling roughly 20 percent of spot crypto exchange-traded products. The new direct-trading capability builds on existing options such as crypto futures, options on crypto ETPs, and related ETFs and mutual funds.
