Interactive Brokers Explores Launching Proprietary Stablecoin for 24/7 Funding

Interactive Brokers, a leading U.S. trading platform, is considering the launch of a U.S. dollar-backed stablecoin to enable round-the-clock funding of brokerage accounts. The MOVE aims to bypass traditional banking hours and streamline asset transfers for crypto-savvy investors. Founder Thomas Peterffy confirmed the exploration, citing growing user demand despite his personal skepticism about cryptocurrency's long-term viability.

The firm already facilitates crypto trading via partnerships with Paxos and Zero Hash. A proprietary stablecoin would complement these offerings, potentially allowing instant deposits and withdrawals. Interactive Brokers may also accept stablecoins from other reputable issuers, reflecting a cautious yet expansionary approach to digital assets.

This development follows Robinhood's USDG stablecoin launch through the Global Dollar Network. Interactive Brokers' user base has surged to a record 3.87 million accounts, underscoring the platform's growing influence in retail investing.