Charles Schwab adda Solana, Avalanche and Chainlink to nascent crypto platform
US financial services giant Charles Schwab plans to add Solana (SOL), Avalanche (AVAX) and Chainlink (LINK) to its crypto trading platform in the coming months, expanding its direct cryptocurrency offering beyond Bitcoin (BTC) and Ether (ETH). Schwab Crypto began rolling out to retail clients in May, initially offering direct Bitcoin and Ether trading alongside traditional investments through Schwab’s website, mobile app and thinkorswim platform.
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Key Facts
- Fact 1: Schwab charges 75 basis points, or 0.75%, on the dollar value of each crypto trade.
- Fact 2: In June, The Wall Street Journal reported that Schwab plans to offer prediction contracts tied to the S&P 500 index through a partnership with Cboe Global Markets.
- Fact 3: The contracts would allow clients to wager on whether the S&P 500 will close above or below a specified level, with the product reportedly expected to launch within months.
- Fact 4: As of July 31, Schwab held $13.04 trillion in client assets across 39.9 million active brokerage accounts, according to the company.
US financial services giant Charles Schwab plans to add Solana (SOL), Avalanche (AVAX) and Chainlink (LINK) to its crypto trading platform in the coming months, expanding its direct cryptocurrency offering beyond Bitcoin (BTC) and Ether (ETH). Schwab Crypto began rolling out to retail clients in May, initially offering direct Bitcoin and Ether trading alongside traditional investments through Schwab’s website, mobile app and thinkorswim platform.
The brokerage said it planned to add more cryptocurrencies and digital assets over time, though it did not specify which assets it is considering or provide a timeline beyond the three newly announced tokens. Schwab charges 75 basis points, or 0.75%, on the dollar value of each crypto trade. The service is available in all US states except New York and Louisiana and is not offered in US territories or internationally.
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