Charles Schwab Adds Solana, Avalanche, Chainlink to Crypto Platform

Charles Schwab is set to expand its cryptocurrency trading platform with the addition of Solana (SOL), Avalanche (AVAX), and Chainlink (LINK) in the coming months, broadening its direct crypto offering beyond its current Bitcoin and Ether lineup. The brokerage first rolled out Schwab Crypto to retail clients in May, enabling direct trading of BTC and ETH alongside traditional investments through its website, mobile app, and thinkorswim platform. While the firm has signaled its intent to add more digital assets over time, it has not disclosed which additional tokens are under consideration or provided a timeline beyond the three newly announced additions.

The service operates at a fee of 75 basis points (0.75%) on the dollar value of each crypto trade and is currently available in all US states except New York and Louisiana. It is not offered in US territories or internationally. Schwab Crypto accounts are provided through Charles Schwab Premier Bank, with affiliated brokerage Charles Schwab & Co. handling certain operational functions on the bank's behalf.

The crypto expansion coincides with Schwab's broader push into novel trading products. In June, The Wall Street Journal reported that the firm is preparing to launch prediction contracts tied to the S&P 500 index through a partnership with Cboe Global Markets, allowing clients to wager on whether the benchmark will close above or below specified levels. Unlike retail-focused platforms such as Kalshi and Polymarket, Schwab's planned offering would initially be limited to index-based outcomes.

Schwab's scale underscores the significance of its crypto push. As of July 31, the firm reported $13.04 trillion in client assets across 39.9 million active brokerage accounts, alongside record second-quarter net revenue of $7.1 billion and net income of $2.8 billion. The move positions Schwab as an increasingly direct competitor to crypto-native platforms and other brokerages exploring digital asset trading, including Morgan Stanley, which recently launched a crypto trading pilot through E*Trade.