Interactive Brokers, (NASDAQ:IBKR) is rolling out the ability to accept stablecoins. Interactive Brokers reports over 4 million clients around the world and assets of more than $750 billion. Interactive Brokers is one of the largest electronic brokers based on daily average revenue trades, executing 4,273,000 trades per day.
Stablecoins, typically lumped under crypto, may be better viewed as a new form of payments and value transfer. Payment stablecoins, as envisioned by the GENIUS Act, which legalized the form of payments, represent a US dollar backed by very secure assets like US Treasuries. Stablecoins can transfer almost immediately, in a secure manner, at a lower cost.
Interactive Brokers is offering the service in partnership with ZeroHash, a digital asset infrastructure firm. For the moment, only USDC, issued by Circle, will be allowed on the platform. ZeroHash is also licensed in the EU under MiCA regulations. ZeroHash posted about the partnership:
“The story isn’t “stablecoins.” The story is money moving faster, cheaper, and with less friction. That’s the upgrade, and it’s becoming the default way money moves. More to come…”
Transfers are limited to a minimum of $10 per transaction, a maximum of $25,000 daily, and $100,000 monthly.
IBKR currently offers limited crypto trading as part of its brokerage service.
