Charles Schwab Prepares to Rival Coinbase in Bitcoin and Ethereum Trading, Here’s the Strategy!

Jakarta, Pintu News – In an interview on CNBC’s Money Movers show, CEO Rick Wurster stated that Schwab is ready to compete directly with Coinbase.

Wurster emphasized that if customers buy their crypto on Coinbase, Schwab wants them to bring those assets back to Schwab.

This shows Schwab’s seriousness in entering the highly competitive crypto market. Schwab hopes to attract customers who are currently using other platforms to invest in crypto.

Check out the full news in this article!

Competition with Coinbase

Rick Wurster, in his interview, confirmed that Schwab will “absolutely” compete with Coinbase when it comes to trading Bitcoin (BTC) and other cryptos. This is a strategic move considering that many Schwab clients currently use external platforms for their crypto investments.

Schwab wants to change this by offering a safe and reliable way to trade crypto directly through their system. Schwab not only plans to offer crypto trading, but also plans to launch their own stablecoin.

This plan comes after the US House of Representatives passed the GENIUS stablecoin bill. President Trump is expected to sign the bill into law today, opening up more opportunities for Schwab to expand their services in the crypto market.

Also read: Tom Lee’s Prediction: “Bitcoin (BTC) to $250,000 in 2025!”

Trust and Innovation at Schwab

According to Wurster, Schwab clients currently own more than 20% of all crypto exchange-traded products (ETPs) in the market, which is worth about $25 billion. However, this is still a fraction of Schwab’s total client assets of $10.8 trillion.

Schwab clients trust them to manage their assets, including investments in stocks and bonds. Schwab has proven its commitment to innovation and client satisfaction with impressive second quarter financial results.

The company recorded profits of more than $2 billion, a 60% increase compared to last year. Revenue was also up 25%, reaching $5.8 billion. This demonstrates strong growth and market acceptance of Schwab’s business strategy.

Read also: Pi Network: Surge in Apps and Whale Activity Potentially Push Prices Up 100%?

Impact on Stock Market

The announcement had a significant impact on the stock market, with Schwab and Coinbase shares reaching record highs. Coinbase rose 6% to $444, while Schwab reached $98.48. This shows the positive response from the market to Schwab’s move in the crypto industry.

Both companies showed significant growth in the number of new accounts, with Schwab opening over 1.1 million new accounts. This signifies high confidence from investors and great growth potential for Schwab in the future, especially with their expansion into crypto trading.

Conclusion

Charles Schwab’s move to enter the Bitcoin (BTC) and Ethereum (ETH) trading markets marks a new era in the integration of traditional financial services with blockchain technology. With trust and infrastructure already in place, Schwab has the potential to become a key player in the global crypto industry.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Crypto Times. Charles Schwab to Launch Bitcoin and Ethereum Trading. Accessed on July 22, 2025
• Featured Image: Bitcoin.News