Interactive Brokers adds nine crypto tokens and stablecoin withdrawals

Interactive Brokers Group (Nasdaq: IBKR) announced the addition of nine new cryptocurrency tokens for trading through zerohash and three new tokens through Paxos Trust Company, N.A., according to a company statement. The broker also introduced the ability for clients to withdraw funds to external wallets via stablecoin.

Clients can now withdraw USD from their IBKR accounts through automatic conversion to USDC, PYUSD (PayPal USD), or RLUSD (Ripple USD). The company said stablecoin-based funding and external transfers are processed near-instantly, 24 hours a day, seven days a week, including on weekends and holidays. Bidirectional stablecoin funding is not available to clients of Interactive Brokers (U.K.) Limited or Interactive Brokers Ireland Limited.

The nine new tokens added via zerohash are Aave (AAVE), Aptos (APT), Canton (CC), Lido DAO (LDO), Monad (MON), NEAR Protocol (NEAR), Plasma (XPL), Pax Gold (PAXG), and Uniswap (UNI). Aave, Uniswap, and Pax Gold are also now available through Paxos.

The company states its crypto commissions start at 0.12% to 0.18% of trade value, with a minimum of $1.75 per order and no added spreads, markups, or custody fees.

"We believe digital assets should be integrated into a client's broader financial experience, not treated separately," said Milan Galik, Chief Executive Officer of Interactive Brokers. "As stablecoins become a more widely used method of payment and transfer, we remain focused on giving clients access to digital assets alongside the broad range of products, asset classes and global markets available through the Interactive Brokers platform."

The new crypto assets are not available to clients of Interactive Brokers Ireland Limited. The company noted that trading in digital assets, including cryptocurrencies, is especially risky and is intended only for individuals with a high risk tolerance and the financial ability to sustain losses.

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