Schwab Crypto Adds SOL, AVAX, LINK to Its Platform

Charles Schwab is expanding its cryptocurrency offerings on its platform, Schwab Crypto. The company will soon allow clients to buy and sell Solana (SOL), Avalanche (AVAX), and Chainlink (LINK) in addition to Bitcoin (BTC) and Ethereum (ETH). This marks a significant expansion of the platform's supported cryptocurrencies from two to five.

The brokerage has stated that it will carefully expand its digital asset offering by focusing on established cryptocurrencies that are most demanded by users. Joe Vietri, Head of Digital Assets at Charles Schwab, said the expansion will give clients more options to build digital asset portfolios.

Schwab Crypto will charge a 0.75% fee on the dollar value of each crypto trade, which is described as among the lowest in the industry. However, it's worth noting that digital assets held in Schwab Crypto accounts are not protected by the Federal Deposit Insurance Corporation (FDIC) or the Securities Investor Protection Corporation (SIPC).

The company has not announced an exact launch date for the three tokens yet, but trading support is expected to become available in the coming months.