The interactive broker will add USDC funding next week along with Ripple and PayPal stablecoin support
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Interactive Brokers now allows eligible US customers to fund in USDC for instant deposits 24/7, including weekends. RLUSD and PYUSD support is expected next week, with stablecoins automatically converted to dollars when delivered via Ethereum, Solana, or Base.
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Interactive Brokers, a global electronic brokerage firm, now allows eligible customers to deposit their accounts using stablecoins, with fast processing available around the clock, including weekends and holidays.
The new funding option enables deposits and transaction transfers in 170 global markets within minutes of launch, the company announced on Thursday. The feature will initially support USD Coin (USDC), along with Ripple's RLUSD and PayPal's PYUSD launching next week.
Customers can send USDC from personal crypto wallets to a secure wallet on Zerohash on Ethereum, Solana or Base. Once received, the token will be “automatically converted into US dollars and credited to the client's brokerage account.”
Interactive brokers do not charge for stablecoin deposits, although clients are responsible for blockchain network fees. The company's partner ZeroHash applies a 0.3% conversion fee for a minimum deposit of $1.
The feature addresses challenges associated with traditional cross-border funding mechanisms. Interactive Brokers stock was up nearly 4% on Thursday, trading at $74 at press time.
