Interactive Brokers supports stablecoin deposits; USDC will be automatically converted to USD.

Interactive Brokers, a leading online brokerage firm, announced an expansion of its crypto business, allowing clients to fund their accounts with stablecoins. According to the announcement, Interactive Brokers has partnered with stablecoin infrastructure provider ZeroHash to support clients depositing USDC via the Ethereum, Solana, or Base networks. The funds will be automatically converted to USD and credited to their securities accounts. Interactive Brokers stated that it will also support Ripple USD (RLUSD) and PayPal USD (PYUSD) within the next week. The company points out that compared to traditional cross-border wire transfers, stablecoin deposits offer near-real-time settlement, lower costs, and are not limited by trading hours, helping to alleviate the efficiency challenges international investors face when accessing global capital markets. Interactive Brokers CEO Milan Galik stated that stablecoin deposits will provide clients with faster and more flexible fund transfers, allowing them to complete deposits and begin trading within minutes. (Cointelegraph)