Global brokerage firm Interactive Brokers Group today announced the addition of cryptocurrencies, allowing customers to trade Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) Through Paxos Trust Company.
Through Paxos, IBKR customers will be able to trade cryptocurrencies with other asset classes available on the Interactive Brokers platform, creating a unified customer experience.
Although initially applicable to U.S. resident customers with personal or joint accounts, Interactive Brokers plans to introduce cryptocurrency transactions to other types of customers in the future, including financial advisors and customers in other parts of the world.
“Paxos provides a regulated blockchain infrastructure to ensure that companies can enable encryption securely and with reduced risk.”
-Charles Cascarilla, CEO and Co-founder of Paxos
As regulated Blockchain infrastructure platform, Paxos is the first digital asset chartered trust company in 2015 and is regulated by the New York Department of Financial Services. Such supervision helps protect consumers and stipulates that assets should be stored in remote quarantine accounts in bankruptcy.