Interactive Brokers adds stablecoin funding for 24/7 account deposits

Interactive Brokers Group Inc. (NASDAQ: IBKR) announced that eligible clients of Interactive Brokers LLC can now fund their brokerage accounts using stablecoin, enabling near-instant processing and 24/7 availability including weekends and holidays.

The new funding option allows clients to deposit funds and begin trading across 170 global markets within minutes of initiating a transfer, according to the company's press release. Traditional cross-border funding methods often involve higher costs and slower processing times, particularly for international investors in regions where USD wire transfers are expensive or require multiple banking relationships.

Clients can fund accounts by sending USD Coin (USDC) from their crypto wallet to a secure wallet provided through a collaboration with zerohash. Interactive Brokers plans to add support for Ripple Coin (RLUSD) and PayPal's coin (PYUSD) next week. The stablecoin is automatically converted to US dollars and credited to the client's brokerage account upon receipt.

"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," said Milan Galik, Chief Executive Officer of Interactive Brokers.

Interactive Brokers does not charge fees for stablecoin deposits, though clients remain responsible for blockchain network fees. Zerohash applies a conversion fee of 0.30% per deposit with a $1 minimum fee.

The stablecoin funding feature is available to eligible Interactive Brokers LLC clients. The company operates as an automated global electronic broker serving individual investors, hedge funds, proprietary trading groups, financial advisors and introducing brokers across over 170 markets.

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