Author: Weilin, PANews
Original Title: Trillion-Dollar Asset Management Giant Charles Schwab Talks Tough, "Absolutely Will Compete with Coinbase", Also Laying Out Stablecoin and Tokenization Strategies
As one of the leading financial service companies in the United States, Charles Schwab is accelerating its expansion into the cryptocurrency field. According to the latest statement by CEO Rick Wurster, Charles Schwab will launch Bitcoin and Ethereum trading services, aiming to provide customers with more comprehensive investment options and directly compete with cryptocurrency platforms like Coinbase.
As a traditional financial giant managing over $10 trillion in assets, Charles Schwab also plans to launch a stablecoin and research the tokenization field based on customer needs. With the gradual clarification of the U.S. regulatory environment, the company is changing the competitive landscape of the cryptocurrency market.
Will Launch Bitcoin and Ethereum Trading Services, Potentially Becoming Coinbase's Direct Competitor
... [rest of the text continues in English translation]Although 24/7 trading of tokenization is one of its advantages, he pointed out that Charles Schwab currently offers 24/5 trading, and only 1% of trades occur outside normal trading hours. Moreover, the public stock market is very transparent, highly liquid, and efficient, and he questioned whether tokenization could provide these advantages. He also expressed concerns about anti-money laundering (AML) and malicious actors in the tokenization field.
Wurster stated that Charles Schwab is exploring tokenization, and if customers have a demand, Charles Schwab will provide this service. However, he also said that if the entire market moves in this direction, he hopes to ensure that tokenization is at least not inferior to the current level in terms of transparency, liquidity, and cost. He also said, "For any new innovation, we hope to expand this field, not make us go backwards."
