Charles Schwab Corporation Expands into Digital Assets with New Cryptocurrency Trading Services

Charles Schwab Corporation has made a groundbreaking announcement during its July 18 earnings call – it plans to launch direct cryptocurrency trading services and delve into stablecoin offerings. This significant expansion into digital assets marks a new chapter for the investment giant.

The company’s CEO, Rick Wurster, explicitly stated that Charles Schwab aims to offer spot Bitcoin and Ethereum trading, thus going beyond its current ETF-only access. Furthermore, he indicated that the firm is actively considering the development of a stablecoin as part of its digital asset expansion strategy.

As an outcome, this could possibly disrupt the established exchanges, particularly Coinbase, given the enormous user base of Charles Schwab Corporation – boasting approximately 37 million active brokerage accounts, surpassing Fidelity’s client count.

Source: www.coinspeaker.com