- Charles Schwab plans to add Solana, Avalanche, and ChainLink to its crypto trading platform in the coming months.
- Schwab Crypto launched in May offering Bitcoin and Ether, now expanding its direct cryptocurrency offering.
- The brokerage charges 0.75% per trade and is available in all US states except New York and Louisiana.
- Schwab also plans to offer prediction contracts on the S&P 500 index through a partnership with Cboe Global Markets.
- Schwab held $13.04 trillion in client assets as of July 31 and reported record Q2 net revenue of $7.1 billion.
Charles Schwab plans to add Solana (SOL), Avalanche (AVAX), and Chainlink (LINK) to its crypto trading platform in the coming months, expanding beyond Bitcoin and Ether. The brokerage’s direct cryptocurrency offering, Schwab Crypto, began rolling out to retail clients in May, initially supporting only the two largest digital assets.
Consequently, the firm stated its intention to add more cryptocurrencies over time, though it provided no further timeline beyond the three newly announced tokens. Schwab charges 75 basis points, or 0.75%, on the dollar value of each crypto trade, and the service is available in all US states except New York and Louisiana.
Meanwhile, Schwab is moving into other new trading products. The company plans to offer prediction contracts tied to the S&P 500 index through a partnership with Cboe Global Markets, allowing clients to wager on index outcomes.
As of July 31, Schwab held $13.04 trillion in client assets across 39.9 million active brokerage accounts, according to the company’s report. The firm also reported record second-quarter net revenue of $7.1 billion and net income of $2.8 billion.
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