Market Analysis Report (14 Sep 2021)

Interactive Brokers, a leading online brokerage firm, is teaming up with regulated blockchain infrastructure platform Paxos to enable the trading and custody of Bitcoin, Ethereum, Litecoin and Bitcoin Cash. These assets will be accessible alongside traditional ones, all accessible via a single interface. 

This service is currently only available to U.S. residents, although Interactive Brokers said they also plan to launch crypto trading for those outside the U.S.

Earlier this year, Paxos acquired approval for a bank charter from the Office of the Comptroller of the Currency, allowing it to expand its custody offerings to firms like Interactive Brokers. Paxos Crypto Brokerage’s API enables trading, custody and liquidity, while Interactive Brokers maintains the client base.

CEO Milan Galik stated: “As financial markets evolve, sophisticated individual and institutional investors are increasingly seeking out allocations to digital currencies as a means of achieving their financial objectives,” Galik’s said. “In giving our clients access to cryptocurrency trading, we recognize the need to meet the growing investor demand to trade cryptocurrency alongside other asset classes in a convenient and low-cost way.”

Source: https://www.cryptocompare.com/email-updates/daily/2021/sep/14/