Interactive Brokers Founder Talks Crypto Trading On Platform, Crypto For Payments – Interactive Brokers Group (IBKR)
Groupe Interactif Brokers Inc (NASDAQ: IBKR) announced the launch of cryptocurrency trading earlier this week.
The launch was a response to customer demand, President and Founder of Interactive Brokers Thomas peterffy said Thursday on CNBC’s “TechCheck”.
The company has wanted to offer crypto on its platform “for some time,” Peterffy said.
Interactive Brokers users can now trade Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), Litecoin (CRYPTO: LTC) and Bitcoin Cash (CRYPTO: BCH) with a commission charge of 0.18%.
Interactive Brokers’ commission fees are about half of the fees charged by the company’s lowest competitor, Gemini, and about one-third of the fees charged by Coinbase Global Inc (NASDAQ: COIN), Peterffy told CNBC.
See also: From immigrant to entrepreneur: How Thomas Peterffy embodies the American dream
Crypto for payments? TechCheck Co-Host Carl Quintanilla asked Petterffy if he thinks cryptocurrencies make sense as the following payment methods AMC Entertainment Holdings Inc (NYSE: AMC) announces that it will accept Bitcoin, Ethereum, and Litecoin for online ticket and concession payments by the end of the year.
“To tell you frankly, that doesn’t make sense to me,” replied Peterffy.
The advantages of these cryptos over stablecoins are unclear, he said, adding that stablecoins take volatility out of the equation and are as easy to use as some of the more volatile cryptocurrencies.
“But you never know. I think there is a small chance that these cryptocurrencies will become very, very valuable and you don’t want to not be exposed to it.”
Peterffy told CNBC that he has held Bitcoin in his personal wallet for the past three years.
Photo: WorldSpectrum from Pixabay.