Charles Schwab has begun offering spot cryptocurrency trading services to retail customers in the United States

American financial services giant Charles Schwab has begun to phase in the "Schwab Crypto" service for eligible U.S. retail customers, allowing users to trade Bitcoin and Ethereum directly.

According to official information, users can view and manage their crypto assets directly through their existing Schwab accounts, with custody provided by Charles Schwab Premier Bank, while Paxos offers underlying custody and trade execution services. The platform charges a transaction fee of 0.75% of the transaction amount, and currently does not support external wallet deposits and withdrawals. Additionally, this service is not yet available to residents of New York and Louisiana. Charles Schwab currently manages approximately $12 trillion in client assets, with its clients holding about 20% of the assets in U.S. spot crypto ETFs.