Schwab Expands Crypto Offerings with Solana, Avalanche, and Chainlink

Charles Schwab is expanding its cryptocurrency offerings by adding three new assets to its direct trading platform. In addition to Bitcoin (BTC) and Ether (ETH), customers will soon be able to trade Solana (SOL), Avalanche (AVAX), and Chainlink (LINK). The expansion builds on the company's initial rollout in May, which provided retail investors with access to crypto trading via Schwab's website, mobile app, and thinkorswim.

The new assets will become available to customers in the coming months, but a specific schedule has not been shared. As part of its fee model, Schwab charges 75 basis points (0.75%) on the dollar value of each crypto trade. The service is only available in all US states except New York and Louisiana, and it is not offered in US territories or internationally.

Schwab's decision to add more assets to its platform signals a shift towards a multi-asset approach to institutional-style crypto access for retail investors. The company has not specified what other tokens are under consideration, but the addition of SOL, AVAX, and LINK marks an important step in expanding customer options.