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Brokerage Giant Interactive Brokers Dives Deeper into Crypto

Tue, 08/09/2022 - 15:30
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Alex Dovbnya
Interactive Brokers has expanded its cryptocurrency services by enabling 24/7 trading and adding more coins
Brokerage Giant Interactive Brokers Dives Deeper into Crypto
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American multinational brokerage firm Interactive Brokers has expanded its cryptocurrency offering, according to a Tuesday press release.

The Greenwich, Connecticut-based multinational brokerage firm says that its clients can now trade cryptocurrencies 24/7.

As reported by U.Today, Interactive Brokers launched support for cryptocurrency last September, offering its customers exposure to Bitcoin, Ethereum, Bitcoin Cash and Litecoin in partnership with stablecoin issuer and blockchain infrastructure firm Paxos.

The newly enabled round-the-clock trading feature is powered by Paxos Trust Company's web application. Steve Sanders, executive vice president of marketing and product development at Interactive Brokers, says that the firm's clientele will now be able to enjoy "greater flexibility" when it comes to reacting to the fast-moving market.

In addition to being able to access crypto markets at any time, Interactive Brokers' customers will also be able to hold both the U.S. dollar and crypto in various types of Paxos accounts. To top that off, one of the leading brokerages has enabled support for several additional cryptocurrencies.

In October, the firm also made it possible for U.S.-based financial advisors to trade cryptocurrency assets, acknowledging growing demand for portfolio diversification.

As reported by U.Today, Charles Schwab, one of the top competitors of Interactive Brokers, recently launched a cryptocurrency-themed exchange-traded fund. However, the company has so far refrained from offering direct crypto trading due to a lack of regulatory clarity.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at