Charles Schwab adds solana, avalanche and chainlink to crypto trading

Key points

• Schwab said on 9 Nov that solana, avalanche and chainlink were available, bringing its crypto lineup to five assets.
• Each trade costs 0.75% of its dollar value, with a $0.01 minimum, or $7.50 on a $1,000 trade.
• Residents of New York, Louisiana and US territories, plus international clients, cannot open Schwab Crypto accounts.

Charles Schwab has expanded its crypto trading lineup beyond Bitcoin and ether, adding solana, avalanche and chainlink for eligible retail clients. The brokerage said on 9 Nov that the three tokens could now be bought and sold through Schwab Crypto accounts, taking the offering to five assets.

The move follows an early-access programme that began in May with Bitcoin and ether, and a phased rollout that reached all eligible retail clients by October. On the 15 Oct business update, CEO Rick Wurster said three more coins were expected before year-end, and the November listings met that timetable. Joe Vietri, Schwab's head of digital assets, said the firm wants to give clients more choice in how they invest alongside their broader portfolios.

Fees and custody

Trading costs 0.75% of each transaction's dollar value, with a $0.01 minimum. Charles Schwab Premier Bank, SSB, acts as custodian, while Paxos provides sub-custody and handles trade execution. Clients can trade through Schwab.com, Schwab Mobile and Thinkorswim, with research, coaching and round-the-clock phone and chat support.

Access remains restricted: residents of New York, Louisiana and US territories, as well as international clients, cannot open accounts, and applications need approval. Accounts are funded from linked brokerage accounts, and orders can be placed in dollars or coin quantities using market, limit, stop and stop-limit options.

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