Charles Schwab is expanding its cryptocurrency business further into wealth management channels. The company plans to offer cryptocurrency spot trading, asset transfers, and custody services on its advisor-facing custody platform as early as mid-2027, though the launch timeline remains subject to change.
Service extended to advisory platforms
This program will allow advisory clients to directly buy, sell, deposit, withdraw, and hold crypto assets through Charles Schwab’s existing wealth management infrastructure. For financial advisors who have long relied on a single platform to manage client accounts, asset transfers, and custody needs, this means crypto assets can now be integrated into a more comprehensive account management process.
Jalina Kerr, Managing Director of the Charles Schwab Investment Advisory Services division, stated at an online media briefing that the project is still on track for a mid-2027 launch, though the timeline has not been finalized. Charles Schwab currently manages over $10 trillion in client assets.
Retail business has been implemented first.
This investment advisory initiative is built on Charles Schwab’s cryptocurrency offerings, which were introduced this year to select U.S. retail clients. Previously, Schwab had begun phasing in direct trading of Bitcoin and Ethereum.
Under the company’s current arrangement, retail crypto accounts are provided by Charles Schwab Premier Bank, SSB, with Paxos handling trade execution and sub-custody. Customers can view their crypto assets alongside traditional investment accounts on Schwab.com, Schwab Mobile, and thinkorswim.
Demand for direct custody is rising.
Jalina Kerr stated that financial advisors currently still primarily gain cryptocurrency exposure through exchange-traded products. These products allow clients to track the cryptocurrency market within their familiar brokerage account systems without having to directly manage tokens or wallets.
However, an increasing number of advisors are serving clients who already hold crypto assets on external platforms. Charles Schwab’s current focus is precisely on addressing this need by providing direct custody and asset transfer tools, rather than simply adding a trading gateway.
As Charles Schwab advances its advisory-side cryptocurrency services, other major financial institutions are also expanding their related offerings. Previously, it was reported that Morgan Stanley has launched a cryptocurrency trading pilot on E*TRADE, supporting Bitcoin, Ethereum, and Solana, with a fee of 0.5%, lower than Charles Schwab’s retail cryptocurrency business rate of 75 basis points.
As of now, Charles Schwab has not disclosed details such as which tokens will be supported on its advisory platform, how fees will be structured, or transfer limits. Initially, its retail platform will only support Bitcoin and Ethereum, and the company has stated that it will gradually add more crypto assets and transfer functionalities in the future.