Charles Schwab, the largest investment brokerage firm in the United States, with assets of $3.2 trillion, abandoned cryptocurrency.
Charles Schwab abandoned crypto
According to Rob Farmer, Schwab’s managing director of corporate communications, the company is not going to offer direct cryptocurrency tradingTrading
– is an economic term that means the process of independent trade, independent analysis of the market and the conclusion of trade transactions.Details services "at present," according to RIAbiz on Saturday.
"Investors should view these currencies as a purely speculative instrument," Farmer added.
"At some point, Schwab will still be forced to join the crypto-community, otherwise the company will lose a large number of customers," said Will Trout, senior analyst at Celent research and advertising firm.
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- Schwab's competitor, Fidelity, already provides Bitcoin trading and storage services. It is also preparing to allow margin purchases and has built an Ethereum wallet that will support ERC-20 based tokens.
Editor: Alyona Nabok