Interactive Brokers to Enable Crypto Trading by the End of the Summer

Interactive Brokers LLC (NASDAQ: IBKR) is looking forward to offering Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term trading within its platform in the coming months, according to an announcement made at the Piper Sandler Global Exchange & FinTech Conference. Thomas Peterffy, Interactive Brokers Chairman and CEO, made the announcement and hinted at the possibility of having it ready by the end of the summer.

“Customers certainly are asking for [crypto trading], and we expect to be ready to offer it to them by the end of the summer,” Peterffy said. Despite this being the full inception of the US-listed brokerage firm within crypto trading, trading of Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term futures has already been available on its platform for a long time.

However, its major rivals, such as Charles Schwab and Fidelity, do not offer crypto trading on their platforms. Instead, they both offer access to some crypto-related funds. “As for hurdles, the greatest hurdle is how do you keep your customers 100% safe. How do you make it 100% sure that no one will steal their coins in spite of the fact that they are untraceable? We will find out more about this when we open for business at the end of the summer,” Interactive Brokers CEO added to the announcement, cited by CNBC.

Recent Brokerage Metrics

Recently, Interactive Brokers launched trading services with US Gold. With the new commodities instrument, the brokerage firm's clients can trade US spot gold in amounts as small as one ounce. Additionally, the broker now allows physical delivery settlement of COMEX Gold, Micro Gold, Silver and Micro Silver Futures.

The crypto trading announcement comes in the midst of the monthly performance metrics for May that were recently released, where Interactive Brokers noted that it witnessed an uptick regarding their ending client equity in March.

The brokerage company accounted for a total of $330.6 billion for the month. Also, the ending client margin loan balances in the firm were $45.8 billion, which was 97% higher than 2020 and 2% higher than April.