Charles Schwab has purchased rival brokerage giant TD Ameritrade and the acquisition is expected to make waves in the custody and brokerage industry.

The acquisition will have huge consequences for the registered investment advisor industry (RIA) and the deal may also affect the cryptocurrency market too.

TD Ameritrade offers trading in bitcoin futures via derivatives through a cryptocurrency exchange run by CME group. They have also invested in another cryptocurrency exchange called EresEx.

The two rival firms will become a combined conglomerate within the next 2 to 3 years but the Schwab’s spokesperson Mayura Hooper is remaining tight-lipped on whether they will integrate the crypto arm of Ameritrade just yet.

“It’s too early in the process to comment on any aspects of integration”


Charles Schwab has historically taken an anti-crypto stance but that may change as Fidelity, the second-largest custody firm in the world with over $2.46 trillion worth of assets, have already rolled out a crypto custody and trading service.

With TD Ameritrade now working alongside Schwab, a move may very well be made to play catch up with Fidelity and TD’s existing crypto investments make that much more possible.


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