Interactive Brokers Now Accepts USDC Deposits via Zerohash Partnership
- Interactive Brokers now accepts USDC USDC +0.01% deposits, converted automatically to USD.
- The initiative enables faster trading and reduced transaction costs.
- Ripple’s RLUSD and PayPal’s PYUSD to be added next week.
Interactive Brokers LLC now allows eligible clients to deposit USDC for 24/7 funding, enhancing their crypto services through a partnership with Zerohash.
This move highlights the growing integration of stablecoins in traditional finance, potentially increasing their adoption and liquidity.
Interactive Brokers LLC, a subsidiary of Interactive Brokers, now accepts USDC deposits through a partnership with Zerohash. These deposits are automatically converted to USD, facilitating faster trading activities. CEO Milan Galik stated that this introduces speed and flexibility for international investors. Clients can now trade 24/7 with reduced transaction costs, benefiting both institutional and retail participants.
Milan Galik, CEO, Interactive Brokers, “Stablecoin funding provides international investors with the speed and flexibility required in today’s markets. Clients can transfer funds and begin trading within minutes, while also reducing transaction costs.”
The initiative targets global investors by offering a seamless way to fund accounts. It enhances the trading experience by enabling nearly instant balance updates and reducing typical banking delays. Additionally, Ripple’s RLUSD and PayPal’s PYUSD are slated for addition next week. This expansion may further solidify Interactive Brokers’ position in the cryptocurrency market.
The decision to enable stablecoin deposits could affect how other financial institutions integrate digital assets. It demonstrates a forward-thinking approach amidst a rapidly evolving financial landscape. This move may set a precedent for future cryptocurrency integrations, highlighting the utility of stablecoins like USDC. Historically, stablecoin adoption aligns with the growing need for digital asset accessibility in traditional financial systems.
