Brokerage Giant Interactive Brokers Dives Deeper into Crypto

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Alex Dovb­nya

Inter­ac­tive Bro­kers has expand­ed its cryp­tocur­ren­cy ser­vices by enabling 24/7 trad­ing and adding more coins

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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