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People familiar with the matter: Charles Schwab is exploring partnerships with cryptocurrency companies that could support cryptocurrency exchanges by the end of the year

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Senior Schwab executives, including the chief compliance officer and chief technology officer, were involved in the decision-making process.

Brokerage and financial advisory firm Charles Schwab is exploring ways to offer cryptocurrency trading services to clients through a partnership with a cryptocurrency company, according to three people familiar with the matter.

The financial services company, which has $6.8 trillion in client assets, is said to be in discussions with several cryptocurrency companies. Executives at Schwab -- including the chief compliance officer and chief technology officer -- were involved in the decision-making process, according to a person familiar with the matter.

If the deal goes ahead, Schwab will white-label another cryptocurrency company's service to provide trading capabilities, the source explained. Charles Schwab may support crypto trading by the end of the year.

A representative schwab, said: "as you know, we allow the approved customer in our futures trading platform CME currency futures products. In addition, Charles schwab also provide certain over-the-counter trading opportunity to trust products, such as the etheric fang Greyscale (Sym: ETHE) and currency (Sym: GBTC) trust products. We will continue to listen to customer feedback, to ensure that our services to meet their needs."

Schwab announced its acquisition of rival TDAmeritrade in November 2019. TDAmeritrade, on the other hand, is more cryptocurrency friendly and is said to be working with cryptocurrency exchange operator Erisx to offer cryptocurrency trading services to its clients. Those plans appeared to stall after the company was acquired by Charles Schwab.