Interactive Brokers Lists Ripple’s XRP
Interactive Brokers has taken a big step by introducing support for XRP and other digital assets.
Brokers at Interactive Brokers noted that the firm has added crypto option support for XRP and other digital assets. This supports the assertion that the business was changing its cryptocurrency trading approach earlier on Tuesday.
The Connecticut-based brokerage has included XRP, Solana (SOL), and Dogecoin (DOGE) in its proprietary crypto assets.
This broadens the support for cryptocurrencies established by the brokerage in September 2021 through a collaboration with Paxos, a firm recognized for its blockchain infrastructure.
It was previously limited to a few coins, such as Bitcoin, Bitcoin Cash, Ether, and Litecoin.
The founder’s viewpoint on cryptocurrencies has changed significantly, which is interesting. Thomas Peterffy in 2023 said cryptocurrencies were worthless and called activity on the platform “very, very slow.”
However, in late 2024, his position drastically changed. Currently, the billionaire advises investors to own Bitcoin. He warns against investing more than 10% of one’s investment portfolio because of the volatility of the asset, but he does recommend allocating up to 3%.
The addition of XRP, Solana, and Dogecoin to Interactive Brokers’ cryptocurrency platform signifies increasing institutional acceptance of digital assets
Peterffy is still Interactive Brokers’ biggest shareholder, even though he resigned as CEO. His evolving views on cryptocurrencies affirm a larger pattern of institutional interest in and acceptance of digital assets. Particularly noteworthy is the inclusion of XRP, a cryptocurrency associated with Ripple that has been vying for mainstream financial integration.
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