No matter how digital assets and the blockchain develop in coming years, Schwab will support client demands for access, CEO Rick Wurster said last week.
"I think if I polled this room and asked what's going to happen to digital assets and the blockchain, we'd hear a lot of different views. My guess is some would say bitcoin's going to zero and some would say it's going to be in the billions," he told the audience at Schwab's Impact conference in Denver, noting that digital assets weren't a significant topic at the conference five years ago.
"Some would say blockchain's going to be the only way clients are going to custody assets, that they want the 24-by-7 trading and the immediate settlement, the potential benefits of tokenizing a broad array of financial assets, while others would say current markets are efficient, liquid and can meet all of those needs. How this plays out will be fascinating," he added.
"The most important message I want to leave with you today is that Schwab for 50 years has stood for creating access and being there for investors. If the market moves towards the blockchain and clients wanting to hold assets on the blockchain, Schwab is going to be there to support you and we're going to be there to support your clients," Wurster said.
"And I think all of us need to think about the role of digital assets and the role of blockchain as we move forward the next five years."
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