Charles Schwab to launch direct bitcoin, ethereum trading to compete with Robinhood
Charles Schwab introduces crypto trading for clients.
Charles Schwab is set to launch Schwab Crypto, a new service allowing clients to directly trade bitcoin and ether. This move positions Schwab in direct competition with Robinhood, which caters to a younger audience with a mix of stock and crypto investments. With over $11 trillion in client assets, Schwab aims to meet the increasing demand for crypto trading among its clients, charging a 0.75% fee per trade.
Key Takeaways
- 1.
Schwab will charge a 0.75% fee on each crypto trade.
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The new service, Schwab Crypto, will allow trading of bitcoin and ether.
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Schwab partners with Paxos for custody solutions in crypto trading.
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