Schwab plans to add SOL, AVAX and LINK to crypto trading

Charles Schwab plans to add Solana, Avalanche and Chainlink to its crypto trading platform in the coming months. The expansion would extend Schwab Crypto beyond its current Bitcoin and Ether offering. Schwab Crypto began rolling out to retail clients in May. Clients can access the service through Schwab's website, mobile app and thinkorswim platform. Schwab said it plans to add more cryptocurrencies and digital assets over time. Schwab did not provide a timeline beyond the three announced tokens. Schwab charges 75 basis points, or 0.75%, on the dollar value of each crypto trade. The service is available in all US states except New York and Louisiana. The service is not available in US territories or internationally. Charles Schwab Premier Bank offers the crypto accounts. Affiliated brokerage Charles Schwab & Co. performs certain operational functions for the bank. The Wall Street Journal reported in June that Schwab plans to offer prediction contracts tied to the S&P 500 through a partnership with Cboe Global Markets. The contracts would let clients wager on whether the S&P 500 would close above or below a specified level. The product is reportedly expected to launch within months. Schwab's planned offering would initially be limited to index outcomes, unlike Kalshi and Polymarket. Schwab held $13.04 trillion in client assets across 39.9 million active brokerage accounts as of July 31, according to the company. Schwab reported second-quarter net revenue of $7.1 billion. Schwab reported second-quarter net income of $2.8 billion.