Charles Schwab, Goldman Sachs, and Morgan Stanley have all confirmed new plans to expand into the cryptocurrency market.
Over the past two days, these major financial institutions have revealed separate initiatives that mark a significant shift toward crypto trading and blockchain-based assets. These announcements come as institutional interest in crypto grows rapidly in the U.S.
Charles Schwab to Launch Spot Crypto Trading
Charles Schwab CEO Rick Wurster recently appeared on Yahoo Finance’s podcast and shared that the bank plans to introduce spot crypto trading within the next year. The offering will begin with Bitcoin and Ethereum and will be available through Schwab’s “thinkorswim” trading platform.
Goldman Sachs Targets Tokenized Assets
Meanwhile, Goldman Sachs is moving in a slightly different direction. During the Token2049 event in Dubai this week, Mathew McDermott, the company’s head of digital assets, revealed that Goldman plans to enter the market for tokenized treasuries and money market funds. The firm is also exploring lending services involving tokenized assets.
Morgan Stanley Eyes 2026 for Crypto Launch via E-Trade
Morgan Stanley is also preparing to offer crypto trading services, but its timeline extends to 2026. According to a Bloomberg report, the firm will launch these services through its brokerage platform, E-Trade. The offering will expand beyond ETFs and futures to include direct spot trading in cryptocurrencies.