Charles Schwab to Offer Spot Crypto Trading

The Charles Schwab Corporation is preparing to enter the spot trading market for cryptocurrencies in the future, as confirmed by incoming CEO, Rick Wurster. This decision coincides with a leadership transition at Schwab, with Wurster taking over from current CEO Walt Bettinger at the start of the year.

Wurster stated in a Bloomberg interview on Thursday that they are waiting for a more favorable regulatory environment, which they anticipate will occur under the administration of Donald Trump. He also expressed confidence in the potential for policy shifts under Trump’s leadership and stated that they are preparing for that possibility.

While Schwab currently does not offer direct crypto trading, they have a presence in the space through crypto-linked exchange-traded funds and futures.

However, with increasing competition from platforms like Robinhood and Webull, which offer user-friendly crypto options, Wurster acknowledged the need for Schwab to stay ahead in the competitive financial services industry.