Interactive Brokers Expands Crypto Trading and Transfers

Interactive Brokers has expanded its cryptocurrency trading and transfer capabilities by adding nine new tokens to its platform. The additions include AAVE, UNI, and PAXG, which is unique because each token represents ownership of allocated physical gold held in professional vaults.

The company also announced that eligible clients can now convert U.S. dollars held at Interactive Brokers into USDC, PayPal USD (PYUSD), or Ripple USD (RLUSD) and send the tokens to an external wallet. Transfers are processed around the clock, including weekends and holidays.

However, it's worth noting that Interactive Brokers does not execute or custody the digital assets. Positions are held with Paxos or Zero Hash, and clients may incur a $0.15 monthly charge for maintaining an open Paxos account. The company receives part of each trading commission as a referral fee.

The expansion is seen as a significant development in the crypto space, allowing clients to move capital between blockchain wallets and brokerage accounts without waiting for traditional banking hours. Interactive Brokers CEO Milan Galik stated, 'We believe digital assets should be integrated into a client's broader financial experience, not treated separately.'