Charles Schwab expands its crypto trading service to include Solana, Chainlink, and Avalanche alongside Bitcoin and Ethereum.
Ecosystem ·
Charles Schwab is expanding its cryptocurrency trading service to include Solana, Chainlink, and Avalanche, bringing its total digital asset offerings to five after launching with Bitcoin and Ethereum in May. The brokerage has indicated additional cryptocurrencies may be added in the future. Clients will be able to manage their crypto holdings alongside traditional investments through Schwab's website, mobile app, and thinkorswim platform.
Each crypto transaction carries a 75 basis point fee calculated on the transaction's dollar value. The service remains restricted in certain U.S. jurisdictions: New York, Louisiana, and U.S. territories are currently excluded from access. Schwab noted that regulatory, operational, market, or risk-related developments could cause delays, modifications, or withdrawals of any of the newly announced asset support.
The expansion occurs as the crypto market has recovered from summer lows, with Bitcoin trading near $81,000 and the three newly added assets posting double-digit gains in recent weeks. However, specifics remain unclear regarding the exact timeline for when each asset will become available on the platform.