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Interactive Brokers supports stablecoin deposits; USDC will be automatically converted to U.S. dollars
Svmuu News: Online brokerage giant Interactive Brokers has announced the expansion of its crypto business, allowing clients to fund their accounts using stablecoins.According to the announcement, Interactive Brokers has partnered with stablecoin infrastructure provider zerohash to enable clients to deposit USDC via theEthereum, Solana, or Base networks. The funds will be automatically converted into U.S. dollars and credited to their brokerage accounts.Interactive Brokers stated that support for Ripple USD (RLUSD) and PayPal USD (PYUSD) will be rolled out within the coming week. The company noted that compared to traditional cross-border wire transfers, stablecoin deposits offer near-real-time settlement, lower costs, and are not subject to trading hour restrictions, helping to alleviate efficiency challenges for international investors accessing global capital markets.Milan Galik, CEO of Interactive Brokers, stated that stablecoin deposits will provide clients with greater speed and flexibility in fund transfers, allowing them to complete deposits and begin trading within minutes. (Cointelegraph)
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