Schwab Wants to Offer Stablecoin Amid Expanding Crypto Services Push: CEO
2025-07-18 18:51:54
Main Idea
Charles Schwab plans to issue its own stablecoin, aligning with broader financial industry trends and upcoming U.S. stablecoin regulations.
Key Points
1. Charles Schwab CEO Rick Wurster announced the company's intention to issue a dollar-pegged stablecoin.
2. The move coincides with Schwab's efforts to offer Bitcoin and Ethereum ETF trading to clients.
3. JP Morgan CEO Jamie Dimon also expressed interest in stablecoins, despite reservations about their utility.
4. The U.S. is set to adopt the Genius Act, a stablecoin-focused regulatory framework, signed into law by President Donald Trump.
5. The stablecoin market is projected to grow to $750 billion by 2030, with Tether currently dominating the space.
Description
Charles Schwab's CEO said that the U.S.-based brokerage is considering offering a dollar-pegged token as the stablecoin market is poised to grow.
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