The American financial services giant — Charles Schwab — stated that the company is preparing to enter the cryptocurrency industry, providing direct cryptocurrency spot trading services to clients, and looks forward to an improved regulatory environment in the U.S. after Trump’s administration, paving the way for the company's cryptocurrency layout.
Incoming CEO of Charles Schwab, Rick Wurster, said in an interview with (Bloomberg) on Thursday:
When the regulatory environment changes, we will officially enter the cryptocurrency spot market. We are confident that this day is approaching, and we are fully prepared for it.
Rick Wurster is currently the president of Charles Schwab and will officially take over as CEO on New Year's Day next year.
Rick Wurster pointed out that Charles Schwab's clients have long been able to participate in the cryptocurrency market through investment tools such as ETFs, futures, and closed-end funds, all of which have yielded good returns, but the company still hopes to provide direct cryptocurrency investment options to clients. He added:
Cryptocurrencies have indeed attracted a lot of attention, and many investors have made a good amount of money through them. However, I personally have not bought cryptocurrencies, and looking back now, I do feel a bit regretful.
Although Rick Wurster stated that he has no intention of making personal cryptocurrency investments in the short term, he is quite pleased to see Charles Schwab's clients exploring cryptocurrencies.
As early as 2021, Charles Schwab stated that once it decides to participate in the cryptocurrency market, the company's entry method would be 'extremely competitive' and would 'bring disruptive effects'.
Charles Schwab Survey: Nearly half of respondents 'intend to invest in cryptocurrency ETFs'
"Another financial giant enters the game! Charles Schwab will provide 'cryptocurrency spot trading services'" This article was first published on (BlockTempo).