Like other financial giants, renowned broker Interactive Brokers could be getting into stablecoins. We take a look at the latest statements from its founder.
Interactive Brokers is interested in stablecoins
Since the beginning of the year, we have seen several non-crypto-native players launch stablecoins, or at least announce their ambitions to do so. With the adoption of the GENIUS Act in the United States, this trend could continue, and in this context, global stock market investment giant Interactive Brokers could be the next to join the fray.
In an interview with Reuters, Thomas Peterffy, founder of the renowned brokerage firm, explained that Interactive Brokers was exploring the possibility of launching a stablecoin, “but had not yet made a final decision on how it would be offered to customers.”
To date, Interactive Brokers already claims to be open to cryptocurrencies, notably by allowing them to be traded. Although their transfer is not yet possible, the issue is also on the agenda. In order to offer these services, the company has already entered into a partnership with stablecoin issuer Paxos and has invested in the Zero Hash exchange.
Ultimately, instant financing on stablecoins, 24 hours a day, 7 days a week, should also be implemented.
What is paradoxical is that Thomas Peterffy himself does not seem particularly pro-crypto, but is nevertheless open to the subject as long as there is market demand:
It’s hard to grasp the fundamental value. If we see people adopting it and assigning value to it, that’s fine with me, but I’m still not convinced.
In addition to potentially issuing a stablecoin, Interactive Brokers could also open its doors to stablecoins from other issuers on its platform. In any case, it is still too early for any concrete news to be announced, so we will have to wait a little longer for a real announcement. In the meantime, the broker now claims $17.5 billion in equity, 3.43 million client accounts, and an average of 3.52 million transactions per day.
IBKR shares are also performing well on the stock market, rising 48% since the beginning of the year:
Thanks to this stock market performance, Interactive Brokers has seen its market capitalization rise to $110.53 billion, placing it 95th in the ranking of the largest US companies.
