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Charles Schwab to launch direct spot bitcoin trading through its new platform, Schwab Crypto™.
Charles Schwab will launch direct spot bitcoin and ethereum trading for retail clients via Schwab Crypto.
KEY POINTS
- Paxos will provide sub-custody and trade execution for Schwab Crypto under a federally regulated trust.
- Schwab Crypto will initially charge a 75 basis point fee, competitive within the industry.
- Schwab plans to add more cryptocurrencies and enable deposit and withdrawal transfers in future phases.
- Clients can trade crypto within their existing Schwab.com, Mobile App, and thinkorswim® platforms.
COMPANIES
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