Interactive Brokers is set to enable retail investors to fund individual brokerage accounts using stablecoins, a move designed to stay competitive in the evolving retail trading landscape, as reported by Bloomberg on Friday.
Based in Greenwich, Connecticut, the brokerage competes with players like Robinhood Markets Inc. and Charles Schwab Corp. Earlier this year, it broadened its cryptocurrency trading options alongside stocks, options, and futures.
This development signifies how traditional brokerages are increasingly integrating crypto-related features to retain retail clients as digital assets secure a stronger presence in mainstream finance. Allowing stablecoins for account funding positions Interactive Brokers among a rising number of firms exploring blockchain-based payment systems to enhance transfer speed and reduce friction, keeping abreast of rivals like Robinhood that have made more substantial moves into crypto.
The firm will gradually roll out this feature to a segment of eligible US clients, as confirmed by an Interactive Brokers spokesperson in an emailed statement. The firm’s chairman, Thomas Peteterffty, initially unveiled the new capability at a Goldman Sachs conference on Wednesday.
Using stablecoins permits customers to fund accounts directly from their cryptocurrency wallets, bypassing traditional bank accounts.
Interactive Brokers has also been active in related crypto markets, including prediction markets tied to economic shifts.
In October, Interactive Brokers spearheaded a $104 million funding round for ZeroHash, a provider of crypto and stablecoin infrastructure, which valued the company at $1 billion. This followed months after Peterffy mentioned to Reuters that the firm was looking into issuing its own stablecoin and permitting account funding with tokens from third-party issuers.
The firm did not immediately respond to CoinDesk’s inquiry.
