In brief
- Schwab plans to introduce trading for Solana, Avalanche, and Chainlink “in the coming months.”
- The company started offering Bitcoin and Ethereum trading in May.
- Eligible clients will incur a 0.75% fee for each crypto transaction.
Charles Schwab, the prominent financial services firm, announced on Thursday its intention to expand its crypto trading options by adding Solana, Avalanche, and Chainlink. This move will extend beyond its current offerings of Bitcoin and Ethereum, although specific launch dates have not been shared.
This announcement follows approximately three months after Schwab began allowing select retail clients to directly trade Bitcoin and Ethereum. Prior to this, customers could only engage with cryptocurrencies through exchange-traded products or by investing in companies like Coinbase; direct purchases of crypto were off the table.
Joe Vietri, head of digital assets at Schwab, noted that the expansion offers clients more options to shape their digital asset portfolios while maintaining the investing and banking experience they trust at Schwab. “These additions align with our strategy to offer clients access to well-known cryptocurrencies, supported by an ecosystem of education and tools to help them make informed decisions about how crypto fits into their broader investment strategies,” he explained.
Solana is known for its rapid and cost-effective transactions, hosting applications for trading, payments, and gaming. Avalanche facilitates the creation of custom blockchains for various applications. Meanwhile, Chainlink serves as a bridge connecting blockchains to external data, enriching smart contracts with essential information like asset prices.
Clients at Schwab will have the ability to buy and sell these cryptocurrencies via the website, mobile application, and thinkorswim trading platform. Each transaction will incur a fee of 0.75%, translating to $7.50 for a $1,000 trade, which Schwab indicates is one of the lowest rates in the industry.
The company is looking to enter the market more fully by 2024, contingent upon clearer regulatory guidance from the U.S. It verified its plans to initiate Bitcoin and Ethereum trading in April 2026, followed by a gradual rollout starting in May.
Additionally, Schwab is considering other digital asset offerings. CEO Rick Wurster mentioned in 2025 that the company is interested in exploring a dollar-pegged stablecoin but has yet to announce any specific plans.
