Overview
- Schwab will introduce trading for Solana, Avalanche, and Chainlink soon.
- The company initiated its crypto services with Bitcoin and Ethereum in May.
- Clients will incur a 0.75% fee for each crypto transaction.
Charles Schwab, the prominent financial services firm, announced on Thursday its intention to incorporate Solana, Avalanche, and Chainlink into its crypto trading platform “in the coming months.” This move marks an expansion beyond its initial offerings of Bitcoin and Ethereum, although specific launch dates have not been disclosed.
This development follows Schwab's rollout of direct trading for Bitcoin and Ethereum to select retail clients approximately three months ago. Previously, customers could only gain exposure to cryptocurrencies via exchange-traded products or shares in companies like Coinbase and Strategy, without the option to purchase the digital currencies directly.
Myriad: What’s Solana's next price movement? Join the conversation.“This expansion will provide clients with more options to construct a digital asset allocation within the trusted investing and banking experience at Schwab,” stated Joe Vietri, Schwab’s head of digital assets. “These additions align with our strategy to offer clients access to well-known cryptocurrencies supported by a comprehensive ecosystem of education, tools, resources, and guidance to help them make informed decisions on how crypto fits into their overall investment objectives.”
Solana is known for its rapid and cost-effective transactions, facilitating applications for trading, payments, and gaming. Meanwhile, Avalanche enables businesses and developers to create customized blockchains for specific applications, and Chainlink acts as a bridge by connecting blockchains to external data sources, supplying smart contracts with critical information like asset prices.
Clients will be able to trade these cryptocurrencies via Schwab’s website, mobile app, and the thinkorswim trading platform. Each transaction will incur a fee of 75 basis points, equivalent to 0.75%, or $7.50 for a $1,000 trade, which Schwab claims is among the lowest in the industry.
In 2024, Schwab intends to enter the market more broadly once U.S. regulations provide clearer guidelines. The firm confirmed plans to initiate trading with Bitcoin and Ethereum in April 2026, followed by a gradual rollout to clients in May.
Additionally, the company is exploring further digital asset products. CEO Rick Wurster mentioned in 2025 that Schwab is interested in potentially offering a dollar-pegged stablecoin, although no specific announcements have been made yet.