Global brokerage firm Interactive Brokers Group Bringing Crypto Trading to Registered Financial Advisors (RIA) or financial advisorsregistered in the US through the Paxos Crypto Brokerage RIA based in the US byBitcoin, Ethereum, Litecoin and Bitcoin Cash can be traded and maintained for their clients.
This is not the first time Interactive Brokers entered an agreement with Paxos to facilitate crypto trading last month. The company has launched crypto trading for U.S. clients supervised by Paxos, the broker behind PayPal’s crypto trading offer that was launched back in August.
RIAs trading Crypto through Interactive Brokers’ new platform have a commission fee of between 0.12% and 0.18% depending on their monthly trading volume. The minimum fee per order is $1.75, just like Coinbase costs 2%.
The rapid transformation of brokers reflects their changing attitudes towards cryptocurrencies as an asset class. While financial giants like Goldman Sachs and JP Morgan have been cautious, Bitcoin’s latest bull run has sparked a shift in institutional policy in the hope that crypto adoption will spread beyond borders. United States and aims to launch crypto services to other RIAs around the world.
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