Consistent revenue stream and low cost

I think Schwab's quantitative moat is their gross/net profit margin a lot of businesses wish they had. With their net being about 30% per quarter that's almost unmatched. The only other competitor that seems to be getting close to that is Robinhood but they are relatively new. However after doing some research its generally agreed Schwab has a wide economic moat with the cost advantage of its services. What's interesting to note is that Schwab clients are the largest holders of cryptocurrency ETFS.

https://www.morningstar.com/stocks/ahead-earnings-is-charles-schwab-stock-buy-sell-or-fairly-valued