Schwab Opens Direct Bitcoin, Ethereum Trading to Retail

Charles Schwab has begun allowing its retail clients to buy and sell Bitcoin and Ethereum directly, the brokerage announced this week, marking a shift from indirect exposure to spot ownership. The service, called Schwab Crypto, is now fully available to eligible clients as of October 15-16, 2026, according to Cryptobriefing.

The move reaches a client base of 40.1 million retail investors who can now trade the two largest cryptocurrencies inside the same app they use for traditional investments. Schwab charges a flat 0.75% fee on trades between $1 and $2 million, and Paxos handles execution and custody.

Key facts

• Schwab Crypto launched on April 16, 2026, with full availability for eligible retail clients by October 15-16, 2026.
• The service excludes New York and Louisiana residents, as well as certain client categories.
• Schwab plans to add Solana, Avalanche, and Chainlink trading by the end of 2026.
• Schwab manages approximately 40.3 million active brokerage accounts and $13.33 trillion in client assets.
• Standard Chartered launched a similar service for wealthy UAE clients after receiving approval from Dubai’s Virtual Assets Regulatory Authority, Decrypt reported.

What changed for Schwab clients

For years, Schwab customers seeking crypto exposure had to rely on indirect products. Now they can own the actual coins through Schwab.com, Schwab Mobile, and thinkorswim. The rollout was phased, with crypto transfers being added gradually rather than all at once. Chief executive Rick Wurster has described crypto trading as a new source of transaction-based revenue for the firm.

Schwab is not the first major brokerage to offer direct crypto trading. Competitors including Fidelity and E*TRADE have pursued similar strategies, following growing regulatory clarity and market demand. However, Schwab’s scale—40.1 million retail clients—makes its entry significant.

Standard Chartered’s parallel move in the UAE

Separately, Standard Chartered launched direct Bitcoin and Ethereum trading for its affluent clients in the United Arab Emirates on Wednesday, October 14, 2026, after securing licensing approval from Dubai’s Virtual Assets Regulatory Authority. The service is initially available to clients classified as Professional Investors and allows them to trade BTC and ETH directly from their bank accounts. The bank handles custody and settlement in a closed-loop model built with Zodia Markets, a digital asset trading firm backed by Standard Chartered’s venture arm, SC Ventures.

Standard Chartered called the offering a global first for the bank and the first crypto trading service from an international bank in the UAE. Samir Subberwal, the bank’s global head of wealth solutions, retail products, data and analytics, said in a statement that client interest in digital assets is growing and the launch represents a milestone for the bank. Rola Abu Manneh, Standard Chartered’s CEO for the UAE, Middle East and Pakistan, said the country was a natural choice given its regulatory environment and its role as one of the bank’s four global wealth hubs.

Until now, Standard Chartered’s crypto trading business catered to institutions. In July 2025, it became the first global systemically important bank to offer spot trading in Bitcoin and Ethereum to institutional clients through its U.K. branch. It brought that institutional desk to the UAE last month through its unit in the Dubai International Financial Centre, which is overseen by the Dubai Financial Services Authority. The bank’s crypto custody service had already gone live in the UAE in September 2024 and in the European Union through a Luxembourg entity a few months later.

Wealth clients previously had indirect routes into crypto at the bank, including crypto exchange-traded funds on its cash equities platform, structured products, and over-the-counter derivatives tied to crypto prices. The new service lets them own the coins themselves, held by the bank, rather than a product that tracks their price.

Standard Chartered has historically been bullish on crypto, with its analysts frequently calling for Bitcoin to reach new highs. In June, Geoff Kendrick, the bank’s global head of digital asset research, declared crypto winter over after Bitcoin slid to nearly $59,000, a 53% drop from its October 2025 peak of $126,000. The bank has maintained a $100,000 year-end target for BTC.

Why it matters

Both moves signal that traditional financial institutions are increasingly integrating crypto into their core offerings. For Schwab, the geographic exclusions in New York and Louisiana will cap adoption in the short term, leaving a meaningful group of potential users locked out. For Standard Chartered, the UAE launch positions the bank to capture demand from wealthy clients seeking regulated crypto access. The two developments highlight a broader trend of banks and brokerages moving from indirect exposure to direct ownership, driven by clearer regulations and client demand.

What to watch

The next markers for Schwab are the planned additions of Solana, Avalanche, and Chainlink by the end of 2026, and whether the firm delivers them on schedule. For Standard Chartered, the bank plans to expand its crypto trading service to other markets, though it has not provided a timeline. Market participants will also watch whether other major banks follow suit in the UAE and beyond.

This is not financial advice. Cryptocurrency markets are volatile and uncertain; always conduct your own research.

Disclaimer: This article is for information only and is not investment, financial or trading advice. Cryptocurrency prices are highly volatile. Always do your own research.

Sources: Crypto Briefing, Decrypt