Charles Schwab to Add Solana, Avalanche, Chainlink to Crypto Trading Platform

Financial services giant Charles Schwab announced on Thursday its intention to broaden its cryptocurrency trading services by adding Solana, Avalanche, and Chainlink to its platform within the next few months. This expansion signifies a move beyond its initial offerings of Bitcoin and Ethereum, which began rolling out to select retail clients approximately three months prior.

Prior to this direct trading capability, Schwab customers could gain exposure to digital assets through exchange-traded products and shares of related companies. Joe Vietri, Schwab’s head of digital assets, stated that these additions will provide clients with more options to incorporate digital assets into their investment strategies, supported by Schwab's educational resources and tools.

Solana is noted for its fast and low-cost transactions, supporting applications for trading, payments, and gaming. Avalanche enables businesses and developers to create customized blockchains, while Chainlink facilitates the connection of blockchains to external data sources for smart contracts. These cryptocurrencies will be accessible through Schwab's website, mobile application, and its thinkorswim trading platform. Each transaction will be subject to a 0.75% fee, which Schwab positions as competitive within the industry.