Interactive Brokers plans to offer crypto trading by end of summer, says CEO

advertisement

Interactive Brokers is entering the crypto game, according to its chief executive.

CNBC reported Wednesday morning that Thomas Peterffy, IB's chairman and CEO, said during an event that "customers are certainly asking for [crypto trading] and we expect to be ready to offer it to them by the end of the summer."

It's unclear which cryptocurrencies IB will offer access to; as noted by the news outlet, the service allows its customers to access CME's bitcoin futures offering. Nor was a specific date specified, per the CNBC report.

The brokerage firm's step into direct crypto trading is a notable gone, given negative comments from Peterffy several years ago.

He notable took out a full-page ad in the Wall Street Journal to issue a warning against what he called links between the cryptocurrency and traditional worlds.

“I think bitcoin and other cryptocurrencies are great ideas. They should be allowed to be traded freely and used freely to find their appropriate role in the economy," told CNBC in an interview at the time. "What I am objecting to is linking bitcoin and other cryptocurrencies by federal regulations to the real economy, which would happen if we were to clear bitcoin along with other products in the same trading house."

Trending Stories

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.

DAOs: An Institutional Guide to Decentralized Governance

Arca provides fundamental information about decentralized autonomous organizations (DAOs) for institutions transitioning into the age of tokenized ecosystems. This guide explores the components, purpose, functions, and practical applications of these nascent entities and the opportunities and challenges for this compelling governance approach.
Read Full Story
Sponsored Post

Layer-2 Scaling Solutions: A Framework for Comparison - Commissioned by Polygon

Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.
Read Full Story
May 5, 2022, 3:17PM UTC
More