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Interactive Brokers Weighs Issuing Stablecoin for Round-the-Clock Funding

The brokerage plans to improve customer funding speed by building blockchain-based payment rails around the clock.

Thomas Peterffy, chairman and founder of Interactive Brokers Group, Inc., speaks during the Piper Sandler Global Exchange and FinTech Conference in New York City, U.S., June 7, 2023. REUTERS/Brendan McDermid/File photo
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Peterffy: interactive brokers working on potential stablecoin

Overview

  • Interactive Brokers is in the evaluation phase for a proprietary stablecoin with no final launch decision made
  • The firm is constructing infrastructure to enable instant, round-the-clock stablecoin deposits and streamlined crypto transfers
  • Its roadmap includes potential support for third-party stablecoins from credible issuers to broaden funding options
  • Existing partnerships with Paxos and Zero Hash continue to underpin Interactive Brokers’ cryptocurrency trading services
  • Founder Thomas Peterffy remains cautious about stablecoins’ fundamental value even as customer interest and industry initiatives grow