Charles Schwab Expands Crypto Offerings to Include Solana, Avalanche, and Chainlink
Charles Schwab has expanded its digital asset offerings, allowing clients with Schwab Crypto accounts to trade Solana (SOL), Avalanche (AVAX), and Chainlink (LINK) alongside Bitcoin and Ethereum. The expansion aims to meet growing retail demand for established blockchain networks and data services within a traditional brokerage framework. The firm is positioning itself competitively on pricing, charging 75 basis points per transaction with no spread or markup. While this remains higher than Morgan Stanley's E*Trade platform, which charges 50 basis points, Schwab emphasizes its low-cost structure relative to the broader industry. Trading is available via Schwab.com, mobile apps, and thinkorswim, featuring near 24/7 availability. Security for these assets is managed through Charles Schwab Premier Bank with sub-custody provided by Paxos Trust Company, utilizing cold storage for most holdings. However, the company notes that these crypto assets are not FDIC or SIPC insured, and certain geographic restrictions apply to residents of New York, Louisiana, and U.S. territories.
Tickers: $LINK $MS $SCHW $SCHW PRD $SOL
Topics: brokerage services cryptocurrency trading digital assets fee structures