Schwab CEO Sees Crypto Trades as a Potential Revenue Stream

Charles Schwab is treating client cryptocurrency trading as a potential source of transaction revenue as it expands access to Schwab Crypto, introduces transfers in stages and prepares to add three digital assets by year-end.

President and CEO Rick Wurster described the opportunity during an Oct. 15 business update. “So I expect us to be able to monetize our clients’ trading behavior that they want to do that’s helpful to their financial lives.” Schwab has not disclosed revenue or customer figures for its crypto service.

Schwab Crypto began rolling out in May 2026 with direct trading in Bitcoin (BTC) and Ether (ETH). The firm charges a 0.75% fee on each crypto transaction. It plans to add Solana (SOL), Avalanche (AVAX) and Chainlink (LINK) before the end of 2026; launch dates for the three additions have not been specified.

Transfers are being enabled gradually. Schwab will email clients when transfer access reaches their accounts, and the rollout has no stated date for reaching every eligible account.

Crypto accounts are offered by Charles Schwab Premier Bank, SSB, and linked to eligible Schwab brokerage accounts. Applicants need approval and must live in a supported U.S. jurisdiction. The service excludes New York, Louisiana and U.S. territories.

Schwab’s companywide third-quarter results show the scale of its brokerage business, but do not measure crypto adoption. At Sept. 30, the firm had $13.33 trillion in total client assets, 40.3 million active brokerage accounts and 48.6 million total client accounts. Net revenue rose 17% year over year to $7.171 billion, while trading revenue increased 16% to $1.158 billion. The company did not report crypto-specific revenue, trading volume or customer adoption.