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Interactive Brokers
Home›Interactive Brokers›The American company Interactive Brokers joins forces with Paxos

The American company Interactive Brokers joins forces with Paxos

By Tim Kane
September 15, 2021
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American multinational brokerage firm Interactive Brokers will offer cryptocurrency trading services in partnership with blockchain firm Paxos.

Customers will now be able to trade cryptocurrencies with stocks and bonds. The company said it “recognizes the importance of digital assets for merchants in helping them achieve their financial goals.”

Milan Galik, CEO, said users of the Interactive Brokers platform – which has more than one million clients – will be able to trade with Bitcoin, Ether, Litecoin and Bitcoin Cash.

Interactive Brokers accepts that new technologies such as blockchain and cryptocurrencies represent a new asset class, important for diversity in today’s financial market.

Galik said that by giving clients access to cryptocurrency trading, the company recognizes the need to meet the growing demand from investors to trade cryptocurrencies alongside other asset classes in a practical manner. and cheaper.

“As financial markets evolve, sophisticated individual and institutional investors are increasingly looking for allocations to digital currencies as a way to achieve their financial goals,” he said.

“By giving our clients access to cryptocurrency trading, we recognize the need to meet the growing demand from investors to trade cryptocurrencies alongside other asset classes in a convenient and inexpensive manner. “

Buy crypto cheaply

He added that the company wants to consolidate itself as a go-to broker to buy cryptocurrencies at low prices.

The company also announced that it will collect a maximum of 0.18% of the trade value, with a minimum of $ 1.75 per order, with no added spreads, markups or custody fees.

According to Galik, this could “open the doors to a large number of investors who trust Interactive Brokers, and who had not been exposed to this type of asset through traditional brokerage offers.”

In order to manage its goal of bringing cryptocurrency trading to its platform, the company has partnered with Paxos.

The deal is dubbed “Paxos Crypto Brokerage” and, according to the company, it allows it to handle the volume and involvement of all transactions from Interactive Brokers and other traders.

Charles Cascarilla, CEO and co-founder of Paxos, said the partnership would appeal to experienced brokers.

“Paxos provides the regulated blockchain infrastructure to ensure that businesses can activate crypto safely and with reduced risk,” he said.

“Our collaboration with Interactive Brokers provides experienced investors with fast and reliable access to the digital economy for the first time.”

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