Interactive Brokers is considering launching a Stablecoin for customers, a relocation that would add one of the world’s biggest discount brokers to the list of companies that use crypto, Reuters reported on July 28.
Founder Thomas Peterffy said in an interview with the newswire that the company “works on possible stablecoins.” However, no definitive decision has been made about the structure and rollout.
At the same time, the broker draws up immediate, 24-hour stablecoin financing for brokerage accounts and offers support for assetaransfers in generally traded cryptocurrencies.
Diving deeper
Interactive brokers, with a value of around $ 110 billion, already offers crypto -trading through partnerships with Paxos and Zero Hash, a stock market infrastructure provider in which it is an investor.
Upon the options on the table, the company can allow customers to finance accounts with Stablecoins issued by other financial institutions, provided that the credibility of the issuer has been established.
Peterffy has already spoken in skepticism about cryptocurrencies in the past and said that he will remain careful, even if the customer’s question grows. He added:
“It is actually difficult to understand his fundamental value. If we see people hiring and attributing it a value, I am good with that, but I am still not convinced.”
Stablecoins are digital tokens that are designed to follow the value of a stable actively, usually the US dollar, and are used to transfer value across borders without trusting traditional banking systems.
Robinhood from Interactive Makelaars, Robinhood, unveiled the Global Dollar Network last year. The initiative is one Consortium -effort centered On USDG, a dollar-pegged stablecoin issued by Paxos.
The competing background emphasizes how large retail platforms race to settle the nursery services, such as deposits, recordings and colland management, around Stablecoin rails.
Cover against disruption
Interactive brokers have pressed adjacent bets on the market structure. Last year, the Forecastex, a prediction market with which investors can buy “yes” or “no” contracts that are linked to specific questions, a product that the company regards as a cover against disruption of the core shares, futures and option franchise, as well as crypto.
The company ended in June with around 3.87 million customer accounts, an increase of 32% compared to the same period a year earlier, because trading activity remained increased during a year of policy -driven volatility.
The shares have so far won around 47% and surpassed a sector index that has risen by around 20%. Analysts from Morningstar recently mentioned the prediction market and crypto offers a “effective hedge” for the company.
