Interactive Brokers Launches Trading Services for XRP, Among Others

Leading brokerage giant Interactive Brokers expands its crypto trading services with four additional digital assets, including XRP and Solana. 

According to an announcement, Interactive Brokers added four new cryptos–XRP, Solana (SOL), Dogecoin (DOGE), and Cardano (ADA)–to its trading platform. 

Notably, the newly added crypto assets will complement the platform’s existing assets, such as Bitcoin (BTC), Litecoin (LTC), Bitcoin Cash (BCH), and Ethereum (ETH).

Availability 

The assets will be available to clients of Interactive Brokers and its partners, Zero Hash LLC and Paxos Trust Company. In particular, clients with accounts at Zero Hash LLC–an Interactive Brokers’ partner–can trade the four newly added cryptocurrencies. 

However, users with accounts at Paxos Trust will only be allowed to trade SOL. Interactive Brokers clients, including those in the U.S. and U.K., can access the new crypto assets on the same platform where they trade bonds, stocks, and other financial instruments. 

Interestingly, Interactive users will enjoy a unified view displaying their balances across all positions in traditional and crypto assets. 

Interactive Exec Reacts 

Notably, Steve Sanders, EVP of Marketing and Product Development at Interactive Brokers, highlighted the significance of the latest addition.

According to him, adding XRP, SOL, ADA, and DOGE to the platform’s list of supported assets gives users more flexibility to diversify their portfolios. He also added that the move would help clients explore more opportunities across digital assets. 

Potential Reasons Behind XRP, SOL, DOGE, and ADA Support 

It is unsurprising that the newly added crypto assets feature some prominent crypto assets in the market. The four crypto assets are ranked among the top 10 assets in the market, with a combined valuation of $264.9 billion.

In addition, the crypto tokens have attracted significant attention from retail and institutional clients. Consequently, top asset managers like Grayscale and Bitwise have filed with the U.S. SEC to launch spot ETFs tied to the four cryptocurrencies.

Although the SEC has not approved any of the filings, it has acknowledged them for potential approval. 

Further, three of the assets–XRP, SOL, and ADA–have been highlighted as possible cryptocurrencies to be featured in the U.S. digital asset stockpile. Recall that President Donald Trump mentioned the assets alongside BTC and ETH for the digital asset reserve initiative.