Interactive Brokers adds nine crypto tokens and launches stablecoin transfers

Interactive Brokers, the fourth-largest broker in the United States, is significantly expanding its crypto offering. The company is adding nine new tokens via partner Zerohash and three via Paxos. In addition, the platform is introducing two-way stablecoin transfers, allowing clients to convert dollars from their IBKR account into stablecoins and send them to external wallets.

Interactive Brokers is available through stablecoin-related services, but the tokens themselves are also interesting. Read more about the expansion below.

Which tokens are being added?

Through Zerohash, Interactive Brokers now supports trading in AAVE, APT, CC, LDO, MON, NEAR, XPL, PAXG and UNI. Via custodian Paxos, three of those tokens are also available: AAVE, UNI and PAXG. Together, these additions represent a significant expansion of the crypto offering the broker provides to its clients.

According to Business Wire, Interactive Brokers sees this step as strengthening one of the most comprehensive and cost-effective crypto experiences a multi-asset broker can currently offer. With this move, the company positions itself as a serious player in the world of institutional and retail crypto.

Two-way stablecoin transfers now possible

The new stablecoin functionality is perhaps the biggest announcement. Clients can now automatically convert their dollars into USDC, PYUSD (PayPal USD) or RLUSD (Ripple USD) and then send them to external wallets. This applies to both custodial and non-custodial wallets, giving users more freedom over their own crypto.

Until now, Interactive Brokers already allowed the use of stablecoins for deposits. With this update, the functionality also becomes available for withdrawals, making the system support two-way traffic. This is a relevant step for clients who regularly want to move funds between their brokerage account and external crypto wallets.