Schwab Expands Crypto Trading with Solana and Avalanche

Charles Schwab Corp has expanded its crypto trading capabilities to include Solana, Avalanche, and Chainlink, alongside Bitcoin and Ethereum. The trades will carry a flat fee of 0.75%.

The move comes as the company faces market pressure following Vanguard's announcement that it will buy fintech custodian Altruist, which serves over 6,000 advisors. This deal has weighed on Charles Schwab Corp stock, causing it to fall by more than 2% in morning trading.

Charles Schwab Corp also announced an increase in its Schwab Advisor Network referral minimum from $5M to $10M next year, a hike that follows a previous adjustment raising the threshold from $500K to $2M. The company has further expanded its Employee Choice Grants program, directing $1M to 84 nonprofits.