Key Takeaways
- Interactive Brokers now allows eligible US clients to fund accounts with USDC for near-instant deposits, available 24/7 including weekends.
- RLUSD and PYUSD support is expected next week, with stablecoins automatically converted to USD upon receipt via Ethereum, Solana, or Base.
Interactive Brokers, the global electronic brokerage firm, now allows eligible clients to fund their accounts using stablecoins, with near-instant processing available around the clock, including weekends and holidays.
The company announced Thursday that the new funding option enables deposits and trading across 170 global markets within minutes of initiating a transfer. The feature initially supports USD Coin (USDC), with Ripple’s RLUSD and PayPal’s PYUSD set to launch next week.
Clients can send USDC from personal crypto wallets to a secure wallet generated by Zerohash on Ethereum, Solana, or Base. Once received, the token “is automatically converted into US dollars and credited to the client’s brokerage account.”
Interactive Brokers does not charge fees for stablecoin deposits, though clients are responsible for blockchain network fees. The company’s partner, Zerohash, applies a 0.3% conversion fee per deposit with a minimum of $1.
The feature addresses challenges associated with traditional cross-border funding methods. Interactive Brokers’ stock rose nearly 4% on Thursday, trading near $74 at press time.
Source: https://cryptobriefing.com/interactive-brokers-activates-crypto-wallet-funding/