Charles Schwab to Potentially Offer Bitcoin and Ethereum Trading
Financial services giant Charles Schwab is considering expanding its services to include Bitcoin (BTC) and Ethereum (ETH) trading, as revealed by the firm’s CEO.
In a recent interview with CNBC, Charles Schwab CEO Rick Wurster discussed the firm’s plans to cater to their clients who are already heavily invested in cryptocurrency.
“Our clients currently hold over 20% of the exchange-traded product crypto in the entire industry, showcasing their significant interest in this market. While the total crypto investment stands at around $25 billion out of the $10.8 trillion our clients have, it is still a relatively small portion. We are looking to introduce Bitcoin and Ether trading soon to provide our clients with access to these assets, which we believe will drive growth. Many of our clients have expressed a desire to consolidate their crypto holdings with Schwab due to their trust in us, and we anticipate a positive response once these offerings are available.”
When questioned about potential competition with platforms like Coinbase, Wurster confidently stated, “Absolutely.”
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Featured Image: Shutterstock/Bruce Rolff