2 Banking Giants Make Major Crypto Moves as Schwab and Deutsche Bank Expand Into Digital Assets

Two of the world's largest traditional financial institutions are stepping deeper into crypto, but from opposite ends of the market. Less than two months after indicating that it will add SOL, LINK, and AVAX to its Schwab Crypto platform, Charles Schwab has opened direct crypto trading to its broader retail client base. At the same time, Deutsche Bank is reportedly preparing to launch institutional custody for the two largest digital assets, BTC and ETH. Schwab Opens Crypto Trading Broadly According to a recent report, the banking behemoth has opened Schwab Crypto to all eligible US retail clients, expanding a rollout that initially began with selected customers. The platform allows investors to hold and trade cryptocurrencies directly alongside stocks and other traditional investment products. Schwab Premier Bank serves as custodian, while Paxos handles trade execution and sub-custody. It’s worth noting, though, that crypto holdings are not covered by Securities Investor Protection Corporation protections in the same way as securities held in a conventional brokerage account. Charles Schwab’s latest move follows another recent expansion. As we reported in late August, the bank sai...