Interactive Brokers supports 24/7 USDC deposits, expanding to Ripple and PayPal stablecoins next week

Interactive Brokers (IBKR) recently announced a major update, officially supporting clients to deposit funds using Circle’s stablecoin USDC. This service allows global investors to break through traditional banking hours and experience a new way of depositing and withdrawing funds at any time.

Breaking Banking Hours: USDC Supports 24/7 Fast Deposits

Milan Galik, CEO of Interactive Brokers, stated: “Stablecoin deposits bring the speed and flexibility needed in the modern market. Clients can now complete fund transfers and start trading within minutes, effectively reducing transaction costs.”

This service overcomes the limitations of traditional brokerages constrained by banking hours. Investors no longer need to wait for bank operating hours and can deposit funds and trade anytime using stablecoins. The entire process is shortened to just a few minutes compared to traditional bank transfers, greatly improving capital flow efficiency.

Three Major Networks Supported: Zerohash Provides Backend Infrastructure

Interactive Brokers’ stablecoin deposit service is powered by Zerohash. As a B2B-focused infrastructure provider for crypto assets and stablecoins, Zerohash has also received strategic investment from Interactive Brokers, ensuring service stability and security.

The user process is straightforward: send USDC from your personal wallet to a dedicated “secure wallet” generated by Zerohash, and the system will automatically complete the conversion. Initially supporting Ethereum, Solana, and Base networks, USDC will be converted to USD and credited to the securities account once received.

Fees and Future Support Plans

In terms of costs, Zerohash will charge a 0.30% foreign exchange fee on deposits (minimum $1 per transaction). Investors will also need to pay blockchain transfer fees (Gas Fees). Compared to traditional bank transfer fees, this solution offers a more competitive cost structure for investors.

Interactive Brokers plans to further expand support next week by adding Ripple’s RLUSD and PayPal’s PYUSD stablecoins. Industry rumors also suggest that Interactive Brokers is considering issuing its own stablecoin in the future to further enrich its financial ecosystem.

From Crypto Trading to a Complete Financial Ecosystem

Founded in 1978, Interactive Brokers is a globally renowned electronic broker and trading platform, known for low fees and professional trading tools. Since late 2021, the company has been venturing into the crypto asset space, partnering with Paxos to support Bitcoin and Ethereum trading and custody services. Last year, it further added mainstream assets like Ripple (XRP) and Solana (SOL).

The launch of USDC deposit support signifies that Interactive Brokers is evolving from a simple crypto asset trading platform to building a more comprehensive digital financial ecosystem. The expansion of stablecoin support is expected to attract more institutional and individual investors to choose this platform for 24/7 around-the-clock trading.