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Schwab is looking 'closely and cautiously' at cryptocurrency capabilities

Schwab is looking 'closely and cautiously' at cryptocurrency capabilities


Seeking Alpha
2021-04-22 16:04:46

Charles Schwab ([[SCHW]] +1.0%) is looking "very closely and cautiously" at the crypto market, executives said on the firm's Spring Investor Update call.Management wants to see more regulatory clarity before offering any cryptocurrency capabilities, they said.With greater regulatory clarity, the company would consider offering capabilities in the crypto space and would be "highly competitive, disruptive, and client-oriented."There are some ways to invest in crypto through a derivative basis through Schwab, and its management is "keeping our eyes closely on whether there will be investment-oriented products, whether in ETFs or others."Earlier in the call, COO Joe Martinetto spoke about increased costs for the TD Ameritrade acquisition but also bigger synergies.


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