CEO of Financial Services Giant Charles Schwab Calls Cryptocurrencies 'Hard to Ignore' - Aliens: AI Crypto News & Markets Updates
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CEO of Financial Services Giant Charles Schwab Calls Cryptocurrencies 'Hard to Ignore'

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Blockworks

Thu, Jan 20, 2022

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Charles Schwab’s CEO said crypto is “hard to ignore” and would welcome the opportunity to trade the asset if the “opportunity presents itself from a regulatory standpoint” The CEO also said there was a “tremendous void” in the crypto space for a firm like Schwab to fill In another sign of growing institutional interest in crypto, the CEO of financial services behemoth Charles Schwab gave a rare insight into how his firm is thinking about the nascent asset class.

During an interview with Bloomberg on Wednesday, Walt Bettinger said cryptocurrencies are “hard to ignore” and that in today’s world they are “fairly significant.” “We have a lot of ways that clients today can invest in crypto.

Charles Schwab is one of the world’s largest financial services firms with assets under management of over $7.5 trillion and revenue of around $11.69 billion, according to a recent Q3, 2020 quarterly report .

“There’s a tremendous void in that space today for a firm like Schwab,” said Bettinger before pointing out that crypto’s transaction costs in trading were “exceptionally high” as well as its spreads.

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