Schwab CEO Rick Wurster announces plans to introduce Bitcoin and Ethereum trading, aiming to meet client demand and enhance competition in the crypto market.
Charles Schwab is set to launch Bitcoin and Ethereum trading services, as announced by CEO Rick Wurster, positioning itself as a competitor to Coinbase. Managing over $10 trillion in assets, Schwab aims to provide clients with direct access to digital assets, with current crypto holdings amounting to $25 billion. Wurster noted that client interest in managing crypto alongside traditional assets could drive significant growth for the firm. The move coincides with a clearer regulatory environment for cryptocurrencies in the U.S.