Charles Schwab to Introduce Cryptocurrency Trading Platform by 2026

Charles Schwab plans to launch a spot cryptocurrency trading platform by 2026. CEO Rick Wurster highlighted expectations of favorable regulatory changes for crypto trading, as engagement with Bitcoin futures and ETFs has surged. This move aims to position Schwab competitively against major crypto exchanges, supported by the firm’s traditional finance reputation and its role as a custodian for Truth.Fi.

Charles Schwab, a leading American brokerage firm, is set to launch a spot cryptocurrency trading platform by 2026. This decision indicates a significant shift in the traditional finance sector, reflecting rising demand for cryptocurrency investment options. The anticipated platform will place Schwab in direct competition with established exchanges like Coinbase and Binance.

During a recent earnings call, CEO Rick Wurster expressed optimism regarding regulatory changes that could facilitate Schwab’s entry into cryptocurrency trading. He noted, “Our expectation is that we will likely launch direct spot crypto in the next 12 months, and we’re on a solid path to achieve that.”

Currently, Schwab offers crypto-related products such as Bitcoin futures and crypto ETFs. However, direct access to spot trading would considerably enhance its cryptocurrency offerings. Engagement with these products has surged, with a 400% increase in traffic to the company’s crypto content, predominantly from non-customers.

Wurster’s confidence in cryptocurrency aligns with progress made by regulatory bodies such as the SEC, which has accelerated the introduction of clearer frameworks for digital assets. He believes the firm’s strong reputation in traditional finance provides it with a competitive edge as it ventures into the crypto space.

Moreover, Schwab is already involved in the sector by serving as a custodian for Truth.Fi, a digital investment platform launched by Trump Media and Technology Group. Truth.Fi aims to offer products including Bitcoin and crypto-managed accounts.

Schwab’s entry into the cryptocurrency market has attracted interest from industry leaders. Bitwise CEO Hunter Horsley labelled this development a milestone in crypto’s integration into mainstream finance. Additionally, Rachael Horwitz, CMO at Haun Ventures, suggested that Schwab should consider integrating crypto-collateralized lending into its banking services in the future.