Interactive Brokers, a prominent global electronic brokerage firm with a stated ambition to become the leading stablecoin trading platform, has introduced a new 24/7 trading feature. This enhancement allows users to expand their stablecoin holdings in their accounts at any time.
The announcement, made public on Thursday, January 15, highlighted the advantages of using stablecoins in trading. The brokerage firm asserted that stablecoins offer a swift, affordable, and globally accessible option compared to traditional funding methods like wire transfers.
Further elaborating on its distinct features, Interactive Brokers noted that stablecoins can extend trading hours, a capability not offered by traditional wire transfers.
Interactive Brokers Embraces a Major Move Aimed at Increasing USDC Adoption Globally
Following these statements, Milan Galik, CEO of Interactive Brokers, commented on the new feature: “Using stablecoin funding gives international investors the speed and flexibility they need in today’s markets. Clients can move funds and start trading within minutes while lowering transaction costs.”
Sources close to the matter, who requested anonymity due to the confidential nature of the situation, clarified that Zerohash, a B2B crypto infrastructure provider, is a key facilitator of this integration's success. Prior to implementing this upgrade, Interactive Brokers had encouraged its retail investors in December to deposit various USDC amounts into their individual brokerage accounts.
For the stablecoin to be effectively included in a client's brokerage account, users were advised to transfer the cryptocurrency from their personal crypto wallets to a Zerohash wallet on a supported major network such as Ethereum, Solana, or Base. This process positions the Zerohash wallet as a secure transfer point. Upon receipt of USDC, the digital asset is automatically converted to US dollars and credited to the brokerage account.
In light of the increasing global adoption of stablecoins and their impact on reshaping global finance, Edward Woodford, the Founder and CEO of Zerohash, stated that the crypto infrastructure platform will charge a conversion fee as low as 0.30% per deposit, with a minimum charge of $1.
In addition to this conversion fee, reports indicate that users will also incur standard blockchain transaction charges. Separately, sources have highlighted that Mastercard had proposed acquiring Zerohash for up to $2 billion. Acquisition talks were reportedly underway, though the current status of these discussions remains undisclosed.
Interactive Brokers Positions Itself as a Leader in the Crypto Industry
Interactive Brokers' decision to integrate 24/7 trading with USDC stablecoin funding aligns with the firm's strategy to introduce additional trading alternatives linked to stablecoins. These potential offerings, possibly launching as early as the following week, include RLUSD, a fiat-backed stablecoin issued by Ripple, and PYUSD, a stablecoin from PayPal pegged 1:1 to the US dollar.
Following this funding integration, reliable sources reported that the brokerage company publicly announced its intention to introduce its own stablecoin last year.
Founded in 1977, Interactive Brokers is recognized for its competitive low fees within the crypto industry.
The company commenced its crypto operations in late 2021, offering crypto trading and custody services for four major assets: Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. This initiative was undertaken in partnership with Paxos, a regulated blockchain infrastructure company.