Charles Schwab Q3 Net Revenue $7.17B, EPS $1.62

The headline numbers are secondary to the net new asset haul, which signals that client money is still flowing into a traditional brokerage even as digital and crypto-native venues compete for the same wallets. That matters for the RWA and tokenization narrative because Schwab's franchise rests on custody and advice, not trading fees — the segment most exposed to tokenized asset rails. Whether that asset-gathering pace holds once tokenized products reach mainstream brokerage shelves is the open question worth watching.