Overview
- Schwab Crypto starts opening to retail clients in a phased rollout over the coming weeks with trading built into Schwab.com, the mobile app, and thinkorswim.
- Trades cost 0.75% of the dollar value of each order, setting a simple, per‑trade fee for buyers and sellers.
- Clients use a separate Schwab Crypto account issued by Charles Schwab Premier Bank that links to their brokerage account but keeps crypto holdings distinct.
- Charles Schwab Premier Bank serves as custodian of records while Paxos, a federally supervised trust company, provides sub‑custody and executes trades.
- Schwab says it plans to add more cryptocurrencies and to enable deposits and withdrawals, alongside education and research support from Schwab’s investor resources.