Hassan Maishera
TL;DR
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“Schwab Crypto” is now available to the first wave of eligible retail clients starting Tuesday.
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The financial institution reported $11.77 trillion in client assets at the end of March.
Brokerage and banking firm Charles Schwab has officially launched its cryptocurrency trading platform, "Schwab Crypto," to a select group of retail clients.
This latest development marks a significant step for the company in expanding its involvement in the digital asset space.
Crypto Trading Access for Retail Investors
In a Tuesday post on X, Charles Schwab announced that the first wave of eligible retail investors can now trade bitcoin (BTC) and ether (ETH) directly on the platform, alongside other crypto-related investment products.
Schwab Crypto™ accounts are now being rolled out to retail clients.
— Charles Schwab Corp (@CharlesSchwab) May 12, 2026
Starting today, the first group of clients can trade Bitcoin and Ethereum at Schwab, right alongside their other investments.
Sign up for updates and a chance to get early access: https://t.co/ELe1HWHS8Y pic.twitter.com/HJKbPUD7Ob
This rollout comes after Schwab's previous announcement to introduce the platform in phases.
The launch represents a major expansion from Schwab's earlier crypto-related offerings, which were limited to indirect exposure via exchange-traded funds (ETFs) and derivatives. With Schwab Crypto, retail clients will have more direct access to the cryptocurrency market.
Details on Crypto Accounts and Custody
According to an April statement, Schwab clients will maintain a separate crypto account through Schwab Crypto.
Charles Schwab Premier Bank will act as the crypto custodian, while blockchain infrastructure provider Paxos will handle trade execution and sub-custody services.
Schwab Crypto will charge a 75-basis-point fee per trade. The platform is available in all U.S. states except for New York and Louisiana, as noted in its FAQ page. However, not all clients may qualify for crypto trading.
At the end of March 2026, Charles Schwab reported $11.77 trillion in client assets and 39.1 million active brokerage accounts, according to its quarterly report. In Q1 of this year, the company posted an adjusted net income of $2.6 billion, with earnings per share of $1.43—up 38% year-on-year. Its Q1 revenue grew by 16% year-on-year to $6.48 billion.
