Interactive Brokers Mulls Stablecoin Launch to Serve Users
Main Idea
Interactive Brokers is considering launching its own stablecoin or integrating third-party stablecoins to enable 24/7 funding and crypto transfers for its clients, amid growing interest in blockchain-based tokens and loosened U.S. stablecoin regulations.
Key Points
1. Interactive Brokers, with a market value of roughly $110 billion, is exploring stablecoin options to enhance its trading ecosystem.
2. The brokerage may allow third-party stablecoins from trusted institutions or launch its own stablecoin for 24/7 funding and crypto transfers.
3. Interactive Brokers has expanded its digital asset support, including major cryptocurrencies like Bitcoin, Ether, Solana, and Dogecoin.
4. The firm's customer account base grew 32% year-on-year as of June, and its stock has risen 47% since January.
5. Interactive Brokers introduced ForecastEx, a predictions market platform, and previously participated in a stablecoin project called USDG with partners like Kraken and Galaxy Digital.
Description
Interactive Brokers is weighing the launch of its own stablecoin , potentially deepening its involvement in digital assets as US regulations surrounding the crypto industry begin to loosen. Founder Thomas Peterffy confirmed in an interview with Reuters that the firm is exploring the idea but has yet to finalize how the offering would be made available to customers. Interactive Brokers ranks among the world’s largest discount brokerages. It has a market value of roughly $110b. Additionally, its c...
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