By Katherine Hamilton
Interactive Brokers is now allowing its clients to fund their brokerage accounts using stablecoin.
The brokerage platform said Thursday that the new capability provides near-instant processing and 24/7 availability.
The stablecoin offering will also allow global clients to fund accounts outside their local business hours and trade immediately, with lower costs than wire transfers.
Stablecoin is a digital asset backed 1:1 by the U.S. dollar. Once received, stablecoin is automatically converted into U.S. dollars and credited to a client's brokerage account.
Interactive Brokers said it plans to add support for Ripple Coin and PayPal's coin next week.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
01-15-26 1858ET
