Welcome to the era of cryptocurrency! Leading US stock broker IB Interactive Brokers now accepts Bitcoin and stablecoin deposits.

Interactive Brokers, the American brokerage giant, continues to expand into cryptocurrency. They recently announced the launch of a “Crypto Asset Deposit” feature, allowing users to transfer Bitcoin, Ethereum, Solana, and other cryptocurrencies directly into their crypto accounts within the brokerage system from external wallets or other platforms, without needing to sell the assets first.

Previously, Interactive Brokers also enabled stablecoin deposits, emphasizing near-instant settlement and 24/7 operation to address traditional cross-border wire transfer issues such as long processing times, high fees, and banking hours restrictions.

Deposit BTC, ETH, SOL into Interactive Brokers

According to the announcement, eligible clients can transfer mainstream cryptocurrencies like Bitcoin, Ethereum, and Solana into accounts supported by infrastructure providers Paxos or zerohash, and manage them alongside stocks, options, futures, forex, and bonds in a unified platform. This means investors no longer need to switch assets and accounts between exchanges and brokers.

Interactive Brokers emphasizes that the main goal is to reduce trading costs and improve asset allocation efficiency. Currently, trading cryptocurrencies on their platform incurs fees of about 0.12% to 0.18% of the transaction amount, with a minimum of $1.75 per trade, and no additional spreads or hidden fees. In comparison, most crypto trading platforms charge over 2%, making the cost difference significant.

IB has also enabled stablecoin deposits earlier this year

Notably, as early as January, Interactive Brokers allowed users to deposit funds via USD Coin, highlighting near-instant settlement and 24/7 operation to solve the issues of traditional cross-border wire transfers, such as long processing times, high costs, and banking hours limitations.

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Through its partnership with zerohash, stablecoin funds are automatically converted to USD upon deposit and immediately invested in the trading market. IB also plans to expand the variety of stablecoins supported, including Ripple’s RLUSD and PayPal USD, gradually building a multi-stablecoin entry.

Interactive Brokers’ crypto and stablecoin deposit services are provided by its invested payment infrastructure company zerohash, which completed a Series D funding round on September 23 last year, raising $104 million from investors including Morgan Stanley, Interactive Brokers, and Apollo Global Management.

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