Interactive Brokers Enables Stablecoin Deposits

Interactive Brokers (IBKR), one of the world’s largest brokerage services, now allows users to deposit stablecoins in their brokerage accounts.

According to a Bloomberg report, the feature will have a staggered rollout beginning in the United States, allowing eligible accounts to fund their brokerage accounts with stablecoins.

The move presents a much-needed alternative for those who made their wealth in crypto, as before, users were required to offramp via a centralized exchange, transfer funds to their bank account, and then transfer money from a bank account to a licensed brokerage, while paying fees to every intermediary along the way.

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