Charles Schwab Prepares For Spot Cryptocurrency Trading Under New Leadership
Charles Schwab Corp.‘s (NYSE:SCHW) incoming CEO, Rick Wurster has announced that the company is gearing up to offer spot cryptocurrency trading once the regulatory environment in the U.S. becomes more favorable.
What Happened: Wurster, currently serving as the firm’s president, shared his thoughts in a Bloomberg Radio interview, highlighting the potential shift in regulations under President-elect Donald Trump‘s administration.
“We will get into spot crypto when the regulatory environment changes,” Wurster said Thursday. “We do anticipate that it will change, and we’re preparing for that eventuality.”
The competition for retail investors’ attention has been intensifying since the pandemic, and this trend has only accelerated following the recent U.S. presidential election.
Schwab, which has been active in the investment space for decades, faces stiff competition from newer players like …
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