Charles Schwab is preparing to enter the cryptocurrency market, according to new CEO Rick Wurster, who noted that the move is linked to the development of regulatory rules in the United States.
In an interview with Bloomberg, Worster expressed optimism about the upcoming regulatory landscape, especially with Donald Trump re-elected, noting the potential for changes that would make it easier for cryptocurrencies to be incorporated into corporate activities.
Charles Schwab is already an active player in the crypto space, offering ETFs and crypto futures.
However, adding instant trading will allow the company to compete directly with platforms like Robinhood and Webull that offer similar services.
Worcester said:
We will enter the immediate crypto space when the regulatory environment changes, and we are preparing for that possibility.
Although Worster supports Schwab clients being able to invest in cryptocurrencies, he revealed that he has no plans to invest in them personally, saying:
“I didn’t buy crypto, now I feel stupid.
It is worth noting that at the beginning of the new year, “Worster” will officially assume the position of CEO, succeeding “Walt Bettinger.”
Since joining the company in 2016, Worster has held several leadership positions, including President of the company since 2021.
Adding instant cryptocurrency trading will significantly transform Schwab’s business model, strengthening its presence in the fast-growing digital market.
The move also reflects a broader shift in the traditional financial landscape toward greater acceptance of cryptocurrencies, driven by expected regulatory changes under the Trump administration.
The move could put Schwab in a strong competitive position, especially as individual and institutional investors continue to look for opportunities to leverage cryptocurrencies as an emerging asset class.
