Charles Schwab CEO Says Crypto Trading Is Coming Soon, Will Compete With Coinbase for Retail
Charles Schwab Corp. (SCHW) is preparing to launch trading for bitcoin (BTC) and ether (ETH) as it aims to become a dominant player in digital asset custody for U.S. retail investors, according to CEO Rick Wurster.
Speaking Friday on CNBC’s “Money Movers”, Wurster said Schwab clients already have significant crypto exposure through exchange-traded products — accounting for more than 20% of the industry’s holdings in that segment — but many have expressed interest in keeping their actual tokens with Schwab, rather than at crypto-native platforms.
Crypto still represents a small slice of Schwab’s business, Wurster said, with about $25 billion in digital assets held across $10.8 trillion in total client wealth. But he…
