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Interactive Brokers Kick Off Crypto Trading Partnering With Paxos

Global electronic brokerage firm Interactive Brokers Group is partnering with Paxos to enable crypto trading.

Consequentially, Interactive Brokers’ clients can trade and hold Bitcoin, Ethereum, Litecoin and Bitcoin Cash through Paxos. Futhermore, The assets is accessible alongside traditional assets through a single interface.

Meanwhile, the services will be available to U.S. residents with individual or joint accounts only.

However, There’s plans to launch crypto trading to other client bases like, Financial Advisors and those outside the U.S.

Additionally, the commission fee is as low as 0.12%–0.18% of trade value.
Paxos’s gains approval from the Office of the Comptroller of the Currency this April. This made it to be able to have this partnership with Interactive Brokers.

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Paxos own brokerage offering, Paxos Crypto Brokerage enables the trading, custody and liquidity. While, Interactive Brokers looks after the client base.

Interactive Brokers CEO, Milan Galik talked about the growing investor demand.

“As financial markets evolve, sophisticated individual and institutional investors are increasingly seeking out allocations to digital currencies as a means of achieving their financial objectives,” Galik’s said.

“In giving our clients access to cryptocurrency trading, we recognize the need to meet the growing investor demand to trade cryptocurrency alongside other asset classes in a convenient and low-cost way.”

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.