Charles Schwab, a leading financial services company, is reportedly gearing up to introduce trading for Bitcoin (BTC) and Ethereum (ETH), as per the firm’s CEO.
In a recent interview with CNBC, Charles Schwab CEO Rick Wurster indicated that the company aims to enhance its offerings for clients who already have substantial investments in cryptocurrency.
“Our clients currently have over 20% of the crypto exchange-traded product market share, demonstrating their strong interest in this asset class. While this amounts to just $25 billion out of the $10.8 trillion total client assets, it’s a significant portion. We are planning to launch Bitcoin and Ether trading in the near future to provide our clients with access to these assets. We believe this will drive growth as many clients express their preference to consolidate their crypto holdings with us due to trust and convenience, potentially accelerating our expansion.”
When asked about potential competition with Coinbase, Wurster confirmed, “Absolutely.”
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