Charles Schwab has opened trading in Solana, Avalanche and Chainlink to clients of Schwab Crypto, according to a press release dated November 9. The three tokens, quoted against the U.S. dollar as SOL/USD, AVAX/USD and LINK/USD, join bitcoin and ether, bringing the lineup to five assets. The move follows an August announcement, reported by The Block, in which Schwab said the additions would arrive in the coming months.
Schwab Crypto began reaching clients in May and became available to all eligible retail clients in October. Trades cost 75 basis points, or 0.75%, of the dollar value, and clients can view and trade crypto alongside other investments on Schwab.com, Schwab Mobile and thinkorswim. Support is available around the clock by phone or chat.
Availability has limits. The service is offered in all U.S. states except New York and Louisiana, not all clients will qualify, and it is not available in U.S. territories or abroad. Schwab Crypto is offered by Charles Schwab Premier Bank, SSB, a member of the FDIC, but Schwab states that the cryptocurrencies are not securities, are not SIPC protected, are not FDIC insured and are not deposits. It also calls digital currencies a purely speculative instrument.
Joe Vietri, Schwab’s head of digital assets, said the firm’s focus remains on delivering the experience, value, education and support clients expect from Schwab. The company plans to add more assets over time with no timeline given, and reserves the right to delay, modify or withdraw support for any announced asset.
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