Charles Schwab CEO Rick Wurster has stated that the prominent financial services company is aiming to launch direct cryptocurrency spot trading within the next 12 months.
Wurster claims that this will be possible due to the changing regulatory environment in the U.S.
Millions of Schwab clients would be able to purchase crypto directly with their brokerage account.
Vladislav SopovLast year, he revealed that Charles Schwab was intending to offer crypto directly to clients, but the timeline was unclear. Back then, ETF analyst Nate Geraci commented that he could not overstate how big of a deal this would be. It is worth noting that Charles Schwab boasts more than $7 trillion worth of assets under management.
As reported by U.Today, Walt Bettinger, the former CEO of Charles Schwab, claimed that the lack of regulatory clarity was preventing one of the largest U.S. brokerage firms from wading into crypto.
In 2022, the company launched a Crypto Economy exchange-traded fund (ETF) that allows investors to gain exposure to the companies that might benefit from cryptocurrency usage.
Vladislav Sopov
Dan Burgin