Bitcoin Exchange Coinbase Surpasses Stock Brokerage Schwab in Active Users

Bitcoin Exchange Coinbase

The operator of the largest U.S.-based Bitcoin exchange now officially has more users than brokerage Charles Schwab.

Bespoke Investment Group stated on Friday, “With all the talk about Bitcoin, a good deal of people are also starting to open accounts where they can buy and sell cryptocurrencies.”

Specifically, while Schwab saw 10.6 million active brokerage accounts in October, Coinbase saw 11.7 million. That’s up 148 percent from 4.7 million a year ago.

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Coinbase is the leading platform through which Americans to buy digital currencies bitcoin, Ethereum and Litecoin. Schwab is the second largest broker-dealer by assets under management, according to Investopedia.

Bitcoin topped $9,000 for the first time over the weekend.

Coinbase states that the company has exchanged more than $50 billion in digital currency. The market value of Bitcoin was around $160 billion, more than that of General Electric.

In comparison, Schwab’s total client assets were a record $3.26 trillion at the end of October.

Further, Coinbase has more than doubled the number of its users in 12 months.

Featured Image: depositphotos/aa-w

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