Charles Schwab Targets Mid-2027 Launch of Crypto Spot Trading, Custody for Advisor Clients
Summary
- Charles Schwab said it plans to introduce cryptocurrency spot trading services for investment advisor clients.
- The company said the service is targeting a mid-2027 launch for cryptocurrency spot trading, asset transfers and custody functions.
- Once launched, investment advisors will be able to handle clients' crypto spot trading, storage and transfers through Charles Schwab's custody platform.
Forecast Trend Report by Period
Charles Schwab plans to roll out cryptocurrency spot trading services for investment advisor clients.
Wu Blockchain reported on June 1 that Schwab is targeting a mid-2027 launch of crypto spot trading, asset transfers and custody services for advisor clients.
Jalina Kerr, a managing director at Schwab Advisor Services, said the company is aiming for a mid-2027 launch under its current plan. The timeline could change, she said.
Charles Schwab is a major US asset manager overseeing more than $10 trillion in client assets.
Once the service launches, investment advisors will be able to trade, custody and transfer clients' crypto assets through Charles Schwab's custody platform.
Charles Schwab previously introduced spot trading services in Bitcoin and Ether for retail investors.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
