Schwab Prepares for Crypto Launch: Waitlist Now Open

Charles Schwab has opened a public waitlist for its upcoming 'Schwab Crypto' account, which will allow clients to buy and sell Bitcoin and Ethereum directly. The new service is scheduled to launch in the first half of 2026, with a limited rollout planned for Q2.

The account will be offered through Charles Schwab Premier Bank, not through standard brokerage accounts. To qualify, applicants must hold an existing Schwab brokerage account. However, residents of New York and Louisiana will not have access to the service at launch.

As part of its crypto offering, Schwab has partnered with EDX Markets, which applied for a national bank charter this week. The firm's CEO, Rick Wurster, flagged interest in stablecoins during an earnings call, saying they 'are likely to play a role in transacting on blockchains.'

It's worth noting that cryptocurrencies held through Premier Bank are not protected by SIPC and are not FDIC insured, and may lose value. Clients cannot transfer existing holdings from external wallets or exchanges into the account at launch.