Key Takeaways
- • Charles Schwab has opened direct crypto trading in Schwab Crypto to all eligible US retail clients, expanding a rollout that began with selected customers.
- • Schwab Premier Bank serves as custodian and Paxos handles trade execution and sub-custody; crypto holdings are not covered by SIPC protections in the same way as conventional securities.
- • Schwab, which holds roughly $12 trillion in client assets, follows a late-August move to add SOL, LINK, and AVAX beyond BTC and ETH.
- • Deutsche Bank is reportedly preparing to launch digital-asset custody for Bitcoin and Ethereum in Germany within weeks, per Reuters, with stablecoin transactions to follow.
- • Deutsche Bank plans tokenized deposits and blockchain-based securities issuance, including digital bonds, and intends to expand into major Asian financial centers next year.
Summary
Two of the world's largest traditional financial institutions are deepening their crypto exposure from opposite ends of the market: Charles Schwab on the retail side and Deutsche Bank on the institutional side.
According to a recent report, Charles Schwab has opened Schwab Crypto to all eligible US retail clients, extending a rollout that initially began with selected customers. The platform lets investors hold and trade cryptocurrencies directly alongside stocks and other traditional investment products. Schwab Premier Bank acts as custodian, while Paxos handles trade execution and sub-custody. The publication notes that crypto holdings are not covered by Securities Investor Protection Corporation protections in the same way as securities held in a conventional brokerage account. The move follows an expansion announced in late August, when the firm said it would add Solana (SOL), Chainlink (LINK), and Avalanche (AVAX) for certain services beyond Bitcoin and Ether. With roughly $12 trillion in client assets, Schwab's direct entry is particularly significant for retail crypto adoption.
On the institutional front, Deutsche Bank said it is preparing to launch its own digital-asset custody service in Germany within the next few weeks, as Reuters reported. The initial offering will support Bitcoin and Ethereum custody before expanding into stablecoin transactions. The bank also plans tokenized deposits and blockchain-based securities issuance, including digital bonds. Gerald Podobnik, co-head of the bank, framed the strategy as complementary rather than substitutive: "I believe that, as the financial system, we will need to offer tokenized or blockchain solutions to our clients as additional services alongside our traditional ones ... but not necessarily to replace what we are doing today." Deutsche Bank also intends to extend the business into major Asian financial centers next year as part of a broader push to capture growth in the digital economy.
Taken together, the two moves illustrate divergent adoption paths: Schwab is widening access to crypto trading for mass retail clients, while Deutsche Bank is building institutional custody and tokenization infrastructure.
According to a recent report, Charles Schwab has opened Schwab Crypto to all eligible US retail clients, extending a rollout that initially began with selected customers. The platform lets investors hold and trade cryptocurrencies directly alongside stocks and other traditional investment products. Schwab Premier Bank acts as custodian, while Paxos handles trade execution and sub-custody. The publication notes that crypto holdings are not covered by Securities Investor Protection Corporation protections in the same way as securities held in a conventional brokerage account. The move follows an expansion announced in late August, when the firm said it would add Solana (SOL), Chainlink (LINK), and Avalanche (AVAX) for certain services beyond Bitcoin and Ether. With roughly $12 trillion in client assets, Schwab's direct entry is particularly significant for retail crypto adoption.
On the institutional front, Deutsche Bank said it is preparing to launch its own digital-asset custody service in Germany within the next few weeks, as Reuters reported. The initial offering will support Bitcoin and Ethereum custody before expanding into stablecoin transactions. The bank also plans tokenized deposits and blockchain-based securities issuance, including digital bonds. Gerald Podobnik, co-head of the bank, framed the strategy as complementary rather than substitutive: "I believe that, as the financial system, we will need to offer tokenized or blockchain solutions to our clients as additional services alongside our traditional ones ... but not necessarily to replace what we are doing today." Deutsche Bank also intends to extend the business into major Asian financial centers next year as part of a broader push to capture growth in the digital economy.
Taken together, the two moves illustrate divergent adoption paths: Schwab is widening access to crypto trading for mass retail clients, while Deutsche Bank is building institutional custody and tokenization infrastructure.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.