The financial services giant plans to expand Schwab Crypto beyond Bitcoin and Ether just months after rolling out direct crypto trading to retail clients.
US financial services giant Charles Schwab plans to add Solana (SOL), Avalanche (AVAX) and Chainlink (LINK) to its crypto trading platform in the coming months, expanding its direct cryptocurrency offering beyond Bitcoin (BTC) and Ether (ETH).
Schwab Crypto began rolling out to retail clients in May, initially offering direct Bitcoin and Ether trading alongside traditional investments through Schwab’s website, mobile app and thinkorswim platform.
The brokerage said it planned to add more cryptocurrencies and digital assets over time, though it did not specify which assets it is considering or provide a timeline beyond the three newly announced tokens.
Schwab charges 75 basis points, or 0.75%, on the dollar value of each crypto trade. The service is available in all US states except New York and Louisiana and is not offered in US territories or internationally.
The Schwab Crypto accounts are offered through Charles Schwab Premier Bank, with affiliated brokerage Charles Schwab & Co. performing certain operational functions on the bank’s behalf.
Related: Morgan Stanley takes on crypto trading rivals with E*Trade pilot
Schwab’s crypto expansion comes as the financial services firm moves into other new trading products. In June, The Wall Street Journal reported that Schwab plans to offer prediction contracts tied to the S&P 500 index through a partnership with Cboe Global Markets.
The contracts would allow clients to wager on whether the S&P 500 will close above or below a specified level, with the product reportedly expected to launch within months. Unlike platforms such as Kalshi and Polymarket, Schwab’s planned offering would initially be limited to index outcomes.
As of July 31, Schwab held $13.04 trillion in client assets across 39.9 million active brokerage accounts, according to the company. Schwab reported record second-quarter net revenue of $7.1 billion and net income of $2.8 billion.
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