Schwab Wants to Launch Its Own Stablecoin, Ambitiously Expanding Its Crypto Empire
🔥 Charles Schwab, a giant managing over $7 trillion in assets, has just confirmed that it is considering issuing a USD-pegged stablecoin, amid the upcoming regulatory framework for US stablecoins.
CEO Rick Wurster shared in the shareholder meeting: “Stablecoins will play an important role in transactions on the blockchain and we want to provide this service.”
👉 Concurrently, Schwab is also preparing to launch spot Bitcoin and Ethereum ETF trading for clients, demonstrating its determination to expand into the crypto investment sector, which it has been quite cautious about until now.
🌍 Schwab joins the increasingly long list of traditional financial names looking to issue their own stablecoins. Citigroup recently announced a similar plan, and JP Morgan is also developing a USD-pegged token, despite CEO Jamie Dimon having previously expressed skepticism about the utility of stablecoins.
📌 The stablecoin market is accelerating ahead of President Donald Trump signing the Genius Act – the first stablecoin regulatory bill in the US, which is expected to boost the stablecoin market cap to $750 billion by 2030.
Currently, this sector is still dominated by the “crypto giants”: Tether processes over $179 billion in transactions per day, with Circle trailing behind at $28 billion.
✅ With the handshake between traditional finance and blockchain, stablecoins are gradually becoming an “essential piece” in the global asset digitization strategy!