Key Takeaways
- Charles Schwab, a major investment management firm with $10.7 trillion in assets, is set to launch Bitcoin and Ethereum trading services.
- The company describes the upcoming crypto trading launch as a ‘meaningful growth driver’ for its business.
Share this article
Charles Schwab, the leading US brokerage firm with $10.7 trillion under management, plans to roll out spot Bitcoin and Ethereum trading, said CEO Rick Wurster on an earnings call with analysts, first reported by Bloomberg.
Wurster expects that both Bitcoin and Ethereum will become meaningful long-term growth drivers for the company, which reports strong earnings for the second quarter of 2025. The company generated $5.8 billion in revenue, up 25% year-over-year, thanks to an increase in trading revenue, net interest income, and asset management fees.
Wurster first revealed Schwab’s intent to launch spot crypto trading last November and reiterated the plan during the firm’s Spring 2025 Business Update. He noted at the time that the rollout would depend on a more favorable US regulatory climate.
“Our expectation is that with the changing regulatory environment, we are hopeful and likely to be able to launch direct spot crypto and our goal is to do that in the next 12 months and we’re on a great path to be able to do that,” said Wurster in a previous statement.
In addition to trading services, Wurster revealed that Schwab plans to launch a stablecoin. He said the firm is exploring multiple pathways to deliver this stablecoin, suggesting openness to partnerships, in-house development, or leveraging existing blockchain infrastructure.
Share this article