The cryptocurrency landscape in the United States is about to see a major change, as Charles Schwab is reportedly planning to launch spot crypto trading over the next 12 months. Indeed, the ambition was stated by CEO Rick Wurster, who restated the firm’s commitment to the sector.
There is no shortage of traditional finance firms that are looking to enter the growing crypto space. Specifically, Morgan Stanley just announced that it is planning to launch cryptocurrency trading for its e-trade clients. With favorable regulation expected, this could be a preceding trend.
JUST IN: $7.13 trillion asset manager Charles Schwab to launch spot crypto trading within 12 months.
— Watcher.Guru (@WatcherGuru) May 1, 2025
Also Read: Visa Launches Crypto Stablecoin Payments in Latin America
Charles Schwab Planning Crypto Trading Launch, CEO Confirms
The landscape for cryptocurrencies as an asset class will forever change after 2025. Indeed, the United Kingdom announced a partnership with the US to help boost crypto adoption in the world. Moreover, there is no shortage of traditional finance companies that are looking to enter the high-potential sector.
With every passing week, even more financial sector firms are looking to get in on the digital asset sector. That has continued, as Charles Schwab is planning to launch spot crypto trading over the next 12 months. Indeed, the move was confirmed by CEO Rick Wurster in a recent earnings call.
Also Read: Eric Trump Says Banks Against Crypto Will ‘Be Extinct in 10 Years’
“Our expectation is that with the regularly changing environment, we are hopeful and likely to be able to launch direct spot crypto [trading], and our goal is to do that in the next 12 months,” Wurster said. The executive took over the position in January and saw them through a 40% quarterly profits surge.
Amid a volatile market, Wurster noted that investors are looking to rebalance and diversify their portfolios. Moreover, crypto is set to play a big part in that, with many interested in redirecting to the asset class. “We saw a 400% increase in traffic to [Schwab’s crypto side] recently, 70% of whom were prospects,” Wurster noted.