Interactive Brokers, an American multinational brokerage firm, has extended its crypto services through a partnership with Paxos Trust Company. The firm said in a press release it now allows clients to trade and store bitcoin (EXANTE: Bitcoin), ether (ETH), litecoin (LTC) and bitcoin cash (BCH) via Paxos Trust Company alongside stocks, options, and other financial tools.
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"Through Paxos, IBKR clients will be able to trade cryptocurrency alongside other asset classes available on the Interactive Brokers platform creating a unified customer experience," the firm said.
Interactive Brokers will charge users fees of 0.12%-0.18% of trade value, depending on monthly volume, with a $1.75 minimum per order. Milan Galik, Interactive Brokers CEO, says the global interest in cryptocurrencies is rising as financial markets evolve.
In May this year, Paxos Trust welcomed Bank of America as a new member of its stock-settlement network. Kevin McCarthy, Head of Financing and Clearing at the Charlotte said that the second-largest US bank would offer the service to its clients if it gets an approval as a clearing agency.
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