Major US trading platform Interactive Brokers to offer cryptocurrency trading

Major US trading platform Interactive Brokers to offer cryptocurrency trading


United States foreign exchange company Interactive Brokers will offer direct cryptocurrency trading to clients within months, a report says.

Speaking at the Piper Sandler Global Exchange & FinTech Conference on June 9, founder Thomas Peterffy revealed that the firm had opted to enter the crypto market.

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Quoted by CNBC, Peterffy hinted that client demand had been a major driver of the decision.

“Customers certainly are asking for [crypto trading] and we expect to be ready to offer it to them by the end of the summer,” he said. 

Interactive Brokers offers traders a wide variety of assets in addition to currencies, these including stocks, options, futures, bonds and funds, according to its website. As of 2019, its equity value totalled almost $8 billion.

The move into crypto will presumably feature Bitcoin (BTC) first and foremost, with Peterffy nonetheless not naming specific tokens.

“As for hurdles, the greatest hurdle is how do you keep you customers 100% safe,” CNBC additionally quoted him as saying.

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