Charles Schwab has officially begun rolling out its new Schwab Crypto accounts, giving eligible retail customers direct access to trading Bitcoin and Ethereum alongside traditional investment products.
The service became available on Tuesday for most U.S. residents, although users located in New York, Louisiana, and U.S. territories are currently excluded. International customers also do not yet have access to the platform.
Schwab Expands Crypto Services for Retail Investors
According to the company’s announcement, the initial phase of the rollout allows a selected group of eligible clients to begin trading digital assets through Schwab Crypto accounts.
To access the service, customers must already maintain an eligible brokerage account with Charles Schwab. Supported account types currently include individual and joint brokerage accounts, while availability also depends on jurisdiction specific eligibility requirements.
Schwab Premier Bank will act as the custodian for the crypto offering, while Paxos will handle trade execution and sub custody services.
According to the platform’s FAQ section, Schwab Crypto intends to charge a 75 basis point trading fee.
The latest launch marks another step in Charles Schwab’s broader expansion into the cryptocurrency sector. Last month, the company introduced a dedicated crypto focused section on its website under the Schwab Crypto branding as it seeks to attract retail investors interested in gaining direct exposure to digital assets.
Founded in 1971, Charles Schwab currently oversees approximately $12 trillion in client assets and remains one of the largest financial services firms in the United States.
Despite the significance of another major traditional finance institution entering the crypto market, prices for the two largest cryptocurrencies remained relatively stable following the announcement. Bitcoin continued trading near the $80,000 level, while Ethereum hovered around $2,300.
Charles Schwab Reports Strong First Quarter Results
Alongside its crypto expansion, Charles Schwab also released its financial results for the first quarter of 2026.
The company reported net income of $2.5 billion during the quarter. After adjusting for certain transaction related costs, adjusted profit rose to $2.6 billion, while adjusted earnings per share climbed 38 percent year over year to $1.43.
Quarterly revenue increased 16 percent to reach $6.48 billion.
Client assets totaled approximately $11.77 trillion by the end of March, representing a 19 percent increase compared to the same period last year.
The firm also generated $140 billion in core net new assets during the quarter and opened around 1.3 million new brokerage accounts, bringing its total number of client accounts to 47.2 million.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
