Schwab Add BTC & ETH Spot Trading, Plan Stablecoin
Charles Schwab report say client assets don rise 14% reach $10.76 trillion and trading revenue jump 23% reach $952 million for Q2. CEO Rick Wurster talk say Schwab go soon offer direct spot trading for Bitcoin and Ethereum for their unified platform. Clients wey hold $25 billion for crypto through exchange-traded products fit trade Bitcoin (BTC) and Ethereum (ETH) alongside stocks, bonds and ETFs. Schwab plan to issue their own stablecoin, join hand with major banks for consortium as dem dey look options to launch the stablecoin independently. This spot trading expansion follow clearer US rules on stablecoins and some bank regulations wey dem relax, e make Schwab fit challenge the old crypto exchanges wella. The firm add over 1 million new retail and advisory accounts this quarter. The move na to catch the growing institutional demand—survey show 83% of dem plan to increase crypto allocation by 2025—and make sure big investors wey dey hold crypto for different places no go waka.
Bullish
Schwab move to join direct Bitcoin and Ethereum spot trading fit dey bullish for both assets. By lowering entry barrier and make crypto trading dey inside one trusted brokerage, Schwab fit run big new demand. For short term, easier way to trade BTC and ETH fit boost liquidity and how many people dey trade, e go support price to go up. The plan for stablecoin issue and bank consortium go still make market infrastructure better, fit make trading waka steady and reduce how dem depend on outside exchange. For long run, Schwab adoption mean say more institutions dey accept digital assets, e dey encourage big allocation and e dey reduce volatility. Like how CME start Bitcoin futures before, na when big financial product launch, market confidence and price dey increase. Even though more supply from institutions fit cool down crazy rallies, the overall effect mean say e good for Bitcoin and Ethereum as dem become main thing for big brokerage.