Odaily Planet News: Electronic brokerage giant Interactive Brokers has announced the expansion of its cryptocurrency business, allowing customers to fund their accounts using stablecoins. According to the announcement, Interactive Brokers has partnered with stablecoin infrastructure provider zerohash, enabling clients to deposit USDC via the Ethereum, Solana, or Base networks. The deposited funds will automatically be converted into U.S. dollars and credited to their brokerage accounts.
Interactive Brokers announced that it will soon support Ripple USD (RLUSD) and PayPal USD (PYUSD) within the coming week. The company noted that compared to traditional cross-border wire transfers, stablecoin deposits can enable near real-time settlement, lower costs, and are not restricted by trading hours, helping to alleviate efficiency issues for international investors entering global capital markets. Interactive Brokers CEO Milan Galik stated that stablecoin deposits will provide clients with faster and more flexible fund transfers, allowing them to complete deposits and start trading within minutes. (Cointelegraph)