Charles Schwab is preparing to enter the spot cryptocurrency market, with plans to offer direct trading in bitcoin and ether during the first half of 2026. The service will be operated through its Charles Schwab Premier Bank unit. The move positions the brokerage giant as a direct competitor to established cryptocurrency exchanges.
The company has already opened a wait list for its new Schwab Crypto account, signaling early demand from its existing client base. The account will allow clients to buy and sell the two largest cryptocurrencies by market value. Schwab intends to integrate this offering alongside clients’ traditional investment holdings, providing a unified platform for both asset classes.
Schwab is entering the crypto space backed by approximately $11.9 trillion in client assets, a scale that gives it considerable leverage as it moves into a market long dominated by dedicated crypto platforms. The firm’s existing relationships with millions of retail and institutional investors could accelerate adoption of its new crypto services. This financial foundation sets it apart from many of the pure-play exchanges it now seeks to challenge.
Originally reported by CoinDesk.
