Interactive Brokers (IBKR), a major brokerage firm valued at $111 billion, is thinking about launching its own stablecoin. The goal is to let customers fund their brokerage accounts instantly, 24/7. This idea comes as new U.S. laws, like the GENIUS Act, signed by President Trump, make it easier for brokerages to try out digital asset tools.
According to a Reuters report, Thomas Peterffy, the company’s chairman, said the firm is still deciding but wants to offer 24/7 stablecoin funding for accounts. He also mentioned that Interactive Brokers might accept stablecoins made by other trustworthy companies, giving users more ways to add money to their accounts.
Currently, Interactive Brokers lets people trade crypto through partnerships with companies like Paxos and Zero Hash. The firm has about 3.87 million customers and is ranked among the top three trading platforms in the U.S. Its stock price has gone up 47% since the start of this year.
Stablecoins are digital tokens tied to real money, such as the U.S. dollar. They help people send money quickly without needing banks. But some worry these coins could be used to hide illegal activities because they might skip anti-money laundering checks.
Peterffy also shared his view on crypto, stating, “It’s basically hard to grasp its fundamental value. If we see people adopting it and ascribing a value to it, I’m okay with that, but I’m still not convinced.”
This move puts Interactive Brokers alongside other companies like Robinhood, which recently launched its own stablecoin, USDG, which is linked to the U.S. dollar. This coin is part of the Global Dollar Network, created with help from other crypto firms like Kraken and Galaxy Digital.
In addition to crypto, Interactive Brokers recently launched a product called ForecastEx. This lets investors bet on yes-or-no questions. The company said these new tools help protect its core business during uncertain market times.
According to Yahoo Finance, Interactive Brokers’ stock is trading at about $65.62, a 48.62% increase in YTD
Meanwhile, PayPal is also jumping into crypto payments, supporting over 100 coins with lower fees and its own stablecoin called PYUSD. This shows just how much big traditional companies are increasingly interested in digital money.
Also Read: BTCs Boost Ethereum Holdings to 70,028 ETH After $10M Raise
