Charles Schwab to add Solana, Avalanche and Chainlink to crypto trading platform

Charles Schwab said on Thursday that it intends to list Solana, Avalanche and Chainlink on Schwab Crypto, extending a spot digital asset offering that so far has been limited to Bitcoin and Ethereum. The broker expects the three tokens to become available for buying and selling "in the coming months."

The company described the additions as part of a plan to "thoughtfully expand" its digital asset business using established cryptocurrencies that match client demand. Schwab began rolling out direct BTC and ETH trading to clients in May and charges 75 basis points per transaction on those trades.

A measured approach to listings

Schwab has taken a slower route into crypto than some rivals. Platforms such as Coinbase and Robinhood give users access to a much wider set of digital assets, while Schwab built its offering around the two largest cryptocurrencies before moving to add three of the most established tokens outside that pair.

The scale of Schwab's client base is central to the announcement. The firm oversees more than $12 trillion in client assets and reports 39 million active brokerage accounts, a distribution channel that could matter to crypto networks as trading activity shifts from crypto-native venues toward traditional brokerages.

"With this expansion, clients will have more choices to build a digital asset allocation alongside the investing and banking experience they know and trust at Schwab," said Joe Vietri, Head of Digital Assets at Charles Schwab. He said the additions are consistent with the firm's approach of offering familiar cryptocurrencies supported by education, tools, resources and support so clients can decide how crypto fits into their broader investing goals.

Schwab did not give a specific launch date for the new tokens, saying only that they will arrive over the next several months.