Interactive Brokers Eyes Game-Changing Stablecoin for 24/7 Customer Funding

Wall Street's quiet giant might just crypto-pivot harder than your DeFi nephew.

Interactive Brokers—the $30B electronic trading behemoth—is flirting with launching its own stablecoin, according to sources. The move would let clients shuttle funds after market hours without begging traditional banks for permission.

Because nothing screams 'financial innovation' like reinventing checking accounts with blockchain buzzwords.

The proposed stablecoin could bypass banking hours entirely—letting traders deposit, withdraw, and rebalance portfolios round-the-clock. No more waiting for T+2 settlements or watching wire transfers crawl through correspondent banks.

Insiders whisper the coin would be fully collateralized (unlike certain algorithmic 'stablecoins' that cratered in 2022). Regulatory approval remains the final hurdle—because apparently even crypto can't escape the SEC's 9-to-5 mentality.

If successful, IB joins a growing list of TradFi players dipping toes into crypto's icy waters. Just don't call it capitulation—call it 'client demand.'

Diving deeper

Interactive Brokers, valued at approximately $110 billion, already offers crypto trading through partnerships with Paxos and Zero Hash, an exchange infrastructure provider in which it is an investor. 

Among the options on the table, the firm could allow customers to fund accounts with stablecoins issued by other financial institutions, provided the issuer’s credibility is established.

Peterffy has already voiced skepticism about cryptocurrencies in the past and said he remains cautious, even as client demand grows. He added:

Stablecoins are digital tokens designed to track the value of a stable asset, typically the US dollar, and are used to transfer value across borders without relying on traditional banking systems.

Interactive Brokers’ rival, Robinhood, unveiled the Global Dollar Network last year. The initiative is aon USDG, a dollar-pegged stablecoin issued by Paxos. 

The competitive backdrop highlights how large retail platforms are racing to wrap Core brokerage services, such as deposits, withdrawals, and collateral management, around stablecoin rails.

Hedging against disruption

Interactive Brokers has been pushing into adjacent bets on market structure. Last year, it launched ForecastEx, a prediction market that allows investors to buy “yes” or “no” contracts tied to specific questions, a product the firm views as a hedge against disruption to its CORE equities, futures, and options franchise, as well as crypto. 

The company ended June with approximately 3.87 million customer accounts, up 32% from the same period a year earlier, as trading activity remained elevated during a year of policy-driven volatility. 

Its shares have gained roughly 47% year to date, outpacing a sector index that has risen about 20%. Analysts at Morningstar recently called the predictions market and crypto offerings an “effective hedge” for the business.