Charles Schwab, one of America’s largest brokerage firms, has announced plans to launch spot cryptocurrency trading for its customers. The move represents a significant step toward mainstream adoption of digital assets in traditional finance.

The company will partner with Paxos, a regulated blockchain infrastructure provider, to offer Bitcoin and Ethereum trading services. Schwab’s entry into the crypto market follows similar moves by competitors including Fidelity and Robinhood.

“We’re excited to provide our clients with access to this emerging asset class through a trusted and regulated platform,” said a Schwab spokesperson. “Our partnership with Paxos ensures institutional-grade security and compliance.”

The announcement comes as Bitcoin surged past $78,000 following Iran’s reopening of the Strait of Hormuz, demonstrating cryptocurrency’s growing correlation with global macroeconomic events. XRP has also shown strong performance, recently flipping BNB to become the fourth-largest cryptocurrency by market capitalization.

Industry experts view Schwab’s crypto offering as a watershed moment that could bring millions of traditional investors into the digital asset space, potentially driving further institutional adoption.