Interactive Brokers LLC announced the launch of cryptocurrency trading services through the Paxos platform.
According to a press release, clients of the brokerage company can now trade and store Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH).
Commissions for cryptocurrency trading will range from 0.12% to 0.18% of the transaction value, depending on the monthly volume.
Furthermore, the US-registered brokerage noted that the minimum commission per order will be $1.75, explaining that there will be no spreads, markups or other costs associated with storage on the platform.
Charles Cascarilla, CEO and co-founder of Paxos, said in a statement:
Consumer interest in accessing digital assets through trusted intermediaries is driving change in the financial industry. Paxos provides a regulated blockchain infrastructure to ensure that businesses can use cryptocurrency securely and with less risk. Our partnership with Interactive Brokers allows savvy investors to gain fast and reliable access to the digital economy for the first time.
In June, Interactive Brokers hinted at the possibility of launching a cryptocurrency trading service on its platform. The US-registered brokerage firm previously offered Bitcoin futures to its clients.
Its main competitors, Charles Schwab and Fidelity, have not yet launched cryptocurrency trading, but both offer access to some cryptocurrency funds.
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