Interactive Brokers is exploring the option of providing a stablecoin. This stablecoin can help fund brokerage accounts instantly at any time of the day. This step would be a significant one in the digital finance strategy of the firm.
Interactive Brokers Eyes Stablecoin Launch as Trump’s Crypto Law Reshapes Industry
According to a Reuters report, Interactive Brokers is exploring the idea of issuing a stablecoin to support round-the-clock crypto funding. The move comes as the company looks to expand its presence in digital finance.
It is also happening after the easing of crypto regulations in the U.S., including the signing of the Genius Act by President Trump. Interactive Brokers already allows crypto trading through partnerships with Paxos and Zero Hash.
Its consideration of launching a proprietary stablecoin puts it in line with competitors like Robinhood, which recently introduced a dollar-backed coin called USDG.
Stablecoins are tokens tied to fiat currencies that allow digital transfers without going through banks. Supporters say they simplify payments, but critics argue they can be misused by those seeking to bypass anti-money laundering checks.
Chairman Thomas Peterffy confirmed the firm is working on options, although no final decision has been made. He stated that enabling 24/7 stablecoin funding for brokerage accounts is a primary goal. The plan would allow users to instantly deposit crypto-linked assets without relying on traditional banking hours.
Peterffy noted that Interactive Brokers may also support stablecoins issued by other firms, provided the issuer has strong credibility. This could give customers more flexibility in how they fund and manage trading accounts.
Peterffy admitted skepticism about the fundamental value of cryptocurrencies, saying he remains cautious about mass adoption. Still, he acknowledged the potential for wide usage if users assign value to the digital assets.
IBKR Stock Surges with 47% Gain
The firm has seen strong growth this year. At the end of June, it had 3.87 million customer accounts, a 32% increase from the previous year. Its stock has also performed well, rising about 47% since January. Also, it has noted a better performance than other brokerage benchmarks.
Interactive Brokers stock has surged as its share price touched $65.60, representing a 0.15% increase as of July 28.
Interactive Brokers is also ranked in the top three U.S. trading platforms with a market cap of $110 billion. It has also been adding services recently. For instance, it launched ForecastEx, a yes-or-no prediction market contracts.
This firm is the latest traditional firm to make a stablecoin-related move. Recently, PayPal launched crypto payments for U.S. merchants, supporting over 100 coins with lower fees and PYUSD integration
Paul
Paul Adedoyin is a crypto journalist with 4+ years experience who provides timely news, in-depth research, and insightful content to inform and empower his audience. His works have been featured on sites such as CryptoMode, CryptoNewsFlash among others.
He holds a degree in Geophysics from OAU, Nigeria. When he’s not writing, he loves watching soccer and reading educative journals.
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