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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RugPullAlarm
· 01-15 22:49
Looking at IB's stance, they are finally willing to accept stablecoins. But I need to dig into the details—what's the fund flow behind the USDC route, and is there a possibility it could become a money laundering channel? Will Ripple and PayPal go live next week? Let's wait for the smart contract audit report before making any transfers, no need to rush.
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AirdropHunterXiao
· 01-15 22:45
Wow, IB is finally starting to play with stablecoins? Traditional finance is really beginning to compromise now. Next week, there will be Ripple and PayPal as well? The pace is a bit fast...
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LuckyBearDrawer
· 01-15 22:34
Are Ripple and PayPal's stablecoins coming next week? That's really happening. Interactive Brokers' move is quite bold...
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OldLeekNewSickle
· 01-15 22:23
Here we go again, trying to lure us in. Interactive Brokers's move is clever—first opening with USDC, and once Ripple and PayPal's stablecoins launch next week, the chip distribution will be even more widespread...
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Once you see through it, it's just about lowering the entry barrier, a standard move in the capital pool model.
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Opening up the stablecoin channel = an upgrade to the cutting mechanism. I bet five bucks next week there will be "professional analysis" claiming this is a positive...
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No hype, no blackening; this indeed makes it easier for small investors to get on board. Just for your reference, everyone.
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PayPal stablecoin? I feel like the project team is just crafting new talking points again.
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They really treat us like an ATM, always teasing us first like this.
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Speaking of which, ample liquidity isn't necessarily a bad thing, but it depends on who holds the chips at key positions.
Interactive Brokers adds USDC funding, with additional stablecoin support coming next week
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.