BREAKING: Charles Schwab to Add Solana, Avalanche and Chainlink to Crypto Offerings

$13 trillion Charles Schwab said Thursday it plans to offer Solana (SOL), Avalanche (AVAX) and Chainlink (LINK) trading for clients in the coming months. The move expands Schwab Crypto offerings beyond Bitcoin and Ethereum.

Ad

Ad

Charles Schwab to Offer Solana, Avalanche and Chainlink Trading

In an official announcement on August 27, the Wall Street giant announced plans to add three tokens to the Schwab Crypto platform. These are Solana (SOL), Avalanche (AVAX), and Chainlink (LINK).

Charles Schwab plans to add only established digital asset offerings that align with client demand. Users can buy and sell the new digital assets in the coming months through their Schwab Crypto accounts.

“With this expansion, clients will have more choices to build a digital asset allocation alongside the investing and banking experience they know and trust at Schwab,” said Joe Vietri, Head of Digital Assets at Charles Schwab.

Notably, Charles Schwab launched crypto trading for clients this year, with direct access to Bitcoin and Ethereum. Trades are priced at 75 basis points of the dollar value of each transaction, which Charles Schwab described as among the lowest in the industry.

It also offers in-depth digital assets education and resources, including insights from the Schwab Center for Financial Research and crypto-focused content through Schwab Coaching.

The crypto community pointed out that the firm failed to announce some leading and in-demand crypto such as XRP, HYPE, and Zcash. However, Charles Schwab confirmed that it will add additional crypto assets to the Schwab Crypto platform over time.

Ad

Ad

SOL, AVAX, and LINK Prices Bounce

Solana price jumped further to extend the 24-hour run to more than 9%. The price is currently trading at $104.84, with a 24-hour low and high of $95.23 and $105.55, respectively. Furthermore, trading volume has skyrocketed by almost 70% over the last 24 hours.

Meanwhile, AVAX and LINK prices also surged higher. Avalanche price climbed almost 2% within an hour due to Charles Schwab adding the crypto asset. Also, Chainlink spiked more than 2% in an hour, extending the 24-hour jump to more than 5%.

Charles Schwab is looking to expand deeply into crypto. It is even partnering with Cboe for prediction market launch  that tracks the S&P 500’s performance. Charles Schwab is also reportedly planning to roll out an options offering.

While a 75 basis point fee is competitive for traditional brokerages, active traders can minimize transaction costs by researching the lowest fee crypto exchange platforms available today.