Charles Schwab is looking “closely” and “cautiously” at the crypto market, CEO Walt Bettinger said Thursday, according to a report.
- “If Charles Schwab, the company, decides to participate in the crypto market, we will be highly competitive, we will be disruptive, and we will be client-oriented,” Bettinger said on a call with analysts, according to Reuters.
- Schwab provides banking and brokerage services to 31.9 million active accounts worldwide.
- The company is waiting for greater regulatory clarity, according to Bettinger, something that could be forthcoming with the appointment of Gary Gensler as new chair of the U.S. Securities and Exchange Commission (SEC).
- Prior to his appointment, Gensler told a Senate Banking Committee on March 3 that he would “work with fellow commissioners to both promote the new innovation, but also at the core to ensure investor protection.
- “We would like to see more regulatory clarity,” Bettinger said. “And if that comes, you should expect Schwab to be a player in that space as it has been a player in other investment opportunities across the spectrum.”
Read more about
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.