Charles Schwab has expanded its direct cryptocurrency trading services to its broader retail client base, allowing customers to hold and trade digital assets alongside traditional investments. Concurrently, Deutsche Bank is reportedly preparing to launch an institutional custody service for Bitcoin and Ethereum in Germany, with plans for future expansion into Asia.
Charles Schwab’s move, managing approximately $12 trillion in client assets, signifies a notable step in retail adoption of cryptocurrencies. The Schwab Crypto platform, supported by Schwab Premier Bank as custodian and Paxos for trade execution and sub-custody, now allows eligible US retail clients to engage in crypto trading. This follows an earlier announcement that Schwab Crypto would add support for SOL, LINK, and AVAX.
It is important to note that, according to source claims, crypto holdings may not be covered by Securities Investor Protection Corporation protections in the same manner as traditional securities held in a conventional brokerage account.
Meanwhile, Deutsche Bank’s reported move into digital asset custody is expected to launch in Germany within the next few weeks. The initial offering will focus on custody for Bitcoin and Ethereum. According to Reuters, the German banking giant also intends to offer tokenized deposits and issue blockchain-based securities, including digital bonds.
Gerald Podobnik, co-head at Deutsche Bank, commented on the evolving financial landscape, stating, “I believe that, as the financial system, we will need to offer tokenized or blockchain solutions to our clients as additional services alongside our traditional ones … but not necessarily to replace what we are doing today.”
Deutsche Bank has further ambitions, planning to expand its digital asset business into major Asian financial centers next year as part of a broader strategy to capitalize on growth in the digital economy. The exact timeline for the full rollout of Schwab Crypto to all eligible US retail clients and the specific launch date for Deutsche Bank’s custody service remain subject to further updates. The scope and timeline for Deutsche Bank’s expansion into stablecoin transactions and tokenized deposits are also not yet fully detailed.
Why This Matters
The materials describe a narrow update: Charles Schwab has opened direct crypto trading to its broader retail client base, allowing them to hold and trade cryptocurrencies alongside traditional investments. The exact timeline for the full rollout of Schwab Crypto to all eligible US retail clients.
Broader Context
Source materials place the factual news in this context: Less than two months after indicating that it may add SOL, LINK, and AVAX to its Schwab Crypto platform, Charles Schwab has opened direct crypto trading to its broader retail client base.
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