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News - Charles Schwab: new CEO wants to offer crypto
The investment platform plans to soon offer its more than 36 million customers the ability to trade cryptocurrencies, the new CEO said.
Charles Schwab is one of the largest financial services firms in the world. Its new CEO, Rick Wurster, who takes office next year, revealed in an interview with Yahoo Finance that he wants to offer crypto services in the future.
The investment firm serves more than 36 million customers and manages nearly $10 trillion in customer money. According to Wurster, the bank's clients are already very active in the crypto market through instruments such as exchange-traded funds (ETFs) and futures.
"We'd also like to directly offer crypto ... we've been waiting for a change in the regulatory environment in order to do that, and we're confident that we think that will come in short order," says incoming Charles Schwab CEO Rick Wurster as bitcoin hits a new all-time high. pic.twitter.com/A7JKLPXxbp
— Yahoo Finance (@YahooFinance) November 21, 2024
"We would also like to offer direct crypto trading," Wurster said. "We have been waiting for a regulatory change ... and we are confident that this will happen soon."
In addition, he admitted: "I haven't bought cryptocurrencies myself, and now I feel stupid." Still, he currently has no plans to invest in Bitcoin and other cryptocurrencies himself.
On Jan. 1, Wurster will be appointed CEO, succeeding Walt Bettinger, who has led Charles Schwab since 2008.
In October, Charles Schwab released the results of a survey showing that cryptocurrencies are the second most popular asset class among ETF investors, after fixed income securities.
