CEO: Schwab Will Launch Crypto Spot Trading This Year
Schwab plans to provide trading services for Bitcoin and Ethereum. The company currently manages $10 trillion in assets.
The world's largest financial companies and governments are increasingly recognizing the opportunities in cryptocurrencies. With BlackRock entering the sector, cryptocurrencies had crossed an important milestone, and now Schwab's CEO has announced the company's approach to cryptocurrencies.
Schwab and Cryptocurrency Move
Initially approaching cryptocurrencies cautiously, Schwab currently manages $10 trillion in assets. The company’s CEO announced that they plan to launch cryptocurrency services in 2025. This is an important development and a sign that many more companies are turning to cryptocurrencies.
Schwab, which will provide trading services with Bitcoin and Ethereum, could open the door to billions of dollars in investment opportunities with this step. While ETFs have only surpassed 100 billion dollars, if the demand increases at this rate since Bitcoin's supply is not unlimited, cryptocurrencies could quickly reach massive market capitalization thresholds.
As of the time this article was prepared, the Bitcoin price is trading at around $96,500.
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