Interactive Brokers adds USDC funding, with additional stablecoin support coming next week

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Source: CryptoBriefing Original Title: Interactive Brokers adds USDC funding, with Ripple and PayPal stablecoin support next week Original Link:

Overview

Interactive Brokers, the global electronic brokerage firm, now allows eligible clients to fund their accounts using stablecoins, with near-instant processing available around the clock, including weekends and holidays.

The company announced Thursday that the new funding option enables deposits and trading across 170 global markets within minutes of initiating a transfer. The feature initially supports USD Coin (USDC), with other stablecoin options set to launch next week.

How It Works

Clients can send USDC from personal crypto wallets to a secure wallet generated by a trusted third party on Ethereum, Solana, or Base. Once received, the token "is automatically converted into US dollars and credited to the client's brokerage account."

Interactive Brokers does not charge fees for stablecoin deposits, though clients are responsible for blockchain network fees. The company's partner applies a 0.3% conversion fee per deposit with a minimum of $1.

Market Impact

The feature addresses challenges associated with traditional cross-border funding methods. Interactive Brokers' stock rose nearly 4% on Thursday, trading near $74 at press time.

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