Charles Schwab is set to enter the world of cryptocurrency with its planned launch of spot buying and holding for Bitcoin and Ethereum. The firm has been working on this project for some time and has confirmed that it will start with a limited rollout, which will be followed by an expanded release. This move would mark a significant step in crypto adoption for Schwab, which manages over $12.2 trillion in assets.
The company's CEO, Rick Wurster, recently stated that the launch is on track to occur in the first half of 2026 and will start with Bitcoin and Ethereum. The firm currently offers several ways to get exposure to crypto through exchange-traded products or stocks related to cryptocurrency companies. However, this move would allow customers to directly buy and hold these cryptocurrencies.
It's worth noting that Schwab has also expressed interest in working with stablecoins, which are a type of cryptocurrency designed to maintain a stable value relative to a fiat currency. This could potentially provide users with more options for transactions on blockchains.