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Charles Schwab announced this week that it will begin selling Bitcoin and Ethereum directly to its 39 million brokerage clients.
Charles Schwab will offer direct Bitcoin and Ethereum trading to 39 million U.S. clients soon.
KEY POINTS
- Crypto in Schwab's platform will not have FDIC or SIPC protection, unlike traditional assets there.
- Deposits and withdrawals of outside crypto will be disabled; only Schwab-purchased assets can be traded.
- Paxos will manage crypto execution and sub-custody, with New York and Louisiana residents excluded at launch.
- The integration blurs the distinction between fully protected traditional assets and uninsured cryptocurrencies in familiar brokerage interfaces.
COMPANIES
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