Interactive Brokers announced on Thursday that eligible clients can now fund their brokerage accounts using stablecoins. The service provides 24/7 deposits with near-instant processing, enabling rapid access to global markets.
The Nasdaq-listed broker stated that clients can send the dollar-pegged stablecoin USDC from a cryptocurrency wallet to a secure wallet offered through a collaboration with digital asset infrastructure provider ZeroHash. The firm plans to add support for Ripple's RLUSD and PayPal's PYUSD next week, expanding beyond USDC.
Once received, the stablecoin is automatically converted into U.S. dollars and credited to the client's brokerage account. This allows trading across Interactive Brokers' markets shortly after initiating the transfer.
"Stablecoin funding provides international investors with the speed and flexibility required in today's markets. Clients can transfer funds and begin trading within minutes, while also reducing transaction costs," said Milan Galik, chief executive officer of Interactive Brokers, in the release.
At press time, USDC's market capitalization was $75.68 billion, making it the world's second largest stablecoin behind tether's $186.90 billion.
The firm noted it does not charge fees for stablecoin deposits, though users are responsible for blockchain network fees. ZeroHash applies a 0.30% conversion fee per deposit, with a minimum fee of $1.
This announcement follows Interactive Brokers' recent expansion into crypto-linked services. The broker began offering stablecoin account funding for U.S. retail clients in December, joining other brokerages aiming to match crypto-native platforms on speed and convenience. Interactive Brokers has also been an investor in ZeroHash, which previously reported raising $104 million at a $1 billion valuation.
Shares in Interactive Brokers rose over 3% on Thursday, reaching a lifetime high of $75.