Interactive Brokers has announced the addition of four new cryptocurrencies—Solana (SOL), XRP, Cardano (ADA), and Dogecoin (DOGE)—to its trading platform.
Interactive Brokers has announced the addition of four new cryptocurrencies—Solana (SOL), XRP, Cardano (ADA), and Dogecoin (DOGE)—to its trading platform. This expansion follows the company's initial foray into the crypto market, which began over three years ago with Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH).
Eligible clients in the U.S. and the U.K. can now trade these digital assets 24/7 through the same interface used for traditional investments such as stocks, options, and futures.
This capability is facilitated through partnerships with Zero Hash and Paxos, which provide the necessary infrastructure for cryptocurrency trading without Interactive Brokers directly managing blockchain operations.
The firm stated that including these new tokens allows clients to diversify their portfolios and hedge against market fluctuations using crypto futures, options, and ETFs. Additionally, clients can withdraw their cryptocurrencies to external wallets, enhancing their control over digital assets.
Interactive Brokers has positioned itself as a competitive player in the cryptocurrency trading landscape by offering low commission rates, ranging from 0.12% to 0.18% of the trade value, without additional fees or spreads.
Founded in 1977, Interactive Brokers has evolved into one of the largest electronic brokerages globally, reporting equity capital of $16.6 billion as of March 1. The company's founder, Thomas Peterffy, initially expressed skepticism about crypto but later acknowledged personal investments in the space.
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