Charles Schwab Expands Crypto Offering with Solana, Avalanche, and Chainlink Integration

• Schwab Crypto is expanding its crypto support beyond Bitcoin and Ethereum to include Solana, Avalanche, and Chainlink over the following months.
• The new additions will let clients access SOL, AVAX, and LINK’s robust ecosystem, with a combined market cap of more than $75.35 billion.

Charles Schwab, one of the world’s top brokerage firms, is expanding crypto support on its trading platform. On Thursday, the company announced it would add Solana (SOL), Avalanche (AVAX), and Chainlink (LINK) to Schwab Crypto.

Integration of Solana, Avalanche, and Chainlink on Schwab Crypto

Joe Vietri, Head of Digital Assets at Charles Schwab, stated the platform’s addition of the three major crypto assets offers customers more ways to diversify their investment strategy. Additionally, he indicated that the company chose the tokens because people are familiar with them.

“With this expansion, clients will have more choices to build a digital asset allocation alongside the investing and banking experience they know and trust at Schwab,” said Vietri. “These additions are consistent with our approach to provide clients with access to familiar cryptocurrencies backed by an ecosystem of education, tools, resources, and support to make informed decisions about how crypto might fit into their broader investing goals.”

Charles Schwab plans to launch these cryptocurrencies on Schwab Crypto “in the coming months.”

Key Features of Schwab Crypto

Schwab Crypto gives customers access to a unified account where they can view, manage, and trade crypto. It works side by side with their traditional investment portfolio across Charles Schwab’s web portal, mobile app, and other services.

Charles Schwab notably began servicing crypto users in April under a phased rollout. Then, it welcomed retail clients in its network by May.

The platform initially supported the two largest crypto assets in the world by overall valuation, namely Bitcoin (BTC) with approximately $1.61 trillion in market cap and Ethereum (ETH) with roughly $304.26 billion in market cap. Despite its limited listings, the digital asset app immediately stood out for its 0.75% fee, the lowest in the industry based on Barclays’ independent report, and zero spread. Solana, Avalanche, and Chainlink’s inclusion expands the app to a robust market with a combined value of $75.35 billion.

Beyond trading, Schwab Crypto provides educational and research resources, including in-depth market insights, expert commentary, and professional coaching, to help investors make informed choices and tailor their strategies to their risk profiles.

Schwab Crypto leverages Charles Schwab’s battle-tested, regulatory-compliant platform, with approximately $13.14 trillion in assets under management (AUM) as of its mid-year declaration. It also has 39.5 million active brokerage accounts, 5.9 million workplace plan participant accounts, and 2.3 million banking accounts.

Source link