After announcing the launch of crypto trading back in June, Interactive Brokers’ clients will now be able to trade four different cryptocurrencies including Bitcoin, Ethereum, Bitcoin Cash, and Litecoin. The service is only available to U.S. residents.
Interactive Brokers is an online brokerage platform that lets users trade stocks, bonds, exchange-traded funds (ETFs), cryptocurrencies, and more.
As of September 1, 2021, the platform hosted 1.49 million client accounts and over $360 billion in assets under custody. Robinhood, by comparison, has 18 million clients and $80 billion in assets under custody, according to CNBC.
Paxos Crypto Brokerage is the primary custodian of cryptocurrencies on Interactive Brokers and is responsible for managing liquidity and licensing on the platform. Paxos performs a similar role for PayPal’s newly-launched crypto service too.
Interface on Interactive Brokers when buying Bitcoin. Source: Interactive Brokers
The total fee for trading cryptocurr
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