Interactive Brokers adds four altcoins amid institutional growth

Interactive Brokers has expanded its cryptocurrency offerings by adding Solana (CRYPTO:SOL), Cardano (CRYPTO:ADA), XRP (CRYPTO:XRP), and Dogecoin (CRYPTO:DOGE) to its platform, doubling its crypto trading options.

The move reflects broader institutional adoption trends, with the four new tokens collectively valued at $267.2 billion as of March 26.

The brokerage, which reported $9.3 billion in 2024 revenue, now supports eight cryptocurrencies, including Bitcoin (CRYPTO:BTC), Ether (CRYPTO:ETH), Litecoin (CRYPTO:LTC), and Bitcoin Cash (CRYPTO:BCH).

Trading and custody services are facilitated through partnerships with Paxos Trust Company and Zero Hash LLC, which processed $20 billion in transactions across 200 countries by June 2024.

Interactive Brokers’ fees range from 0.12% to 0.18% per transaction, with a $1.75 minimum per trade.

While competitive with “pro” platforms, the firm faces rivals like Kraken, which has recently added memecoins, and Binance, which allows community-driven token listings.

The expansion coincides with regulatory shifts toward clearer frameworks.

The European Union’s MiCA regulation and U.S. legislative efforts on stablecoins aim to balance oversight with innovation.

Meanwhile, Bitcoin ETFs have attracted $36 billion in net inflows since January 2024, signaling sustained institutional interest despite market turbulence.

Financial institutions globally are broadening crypto access.

Nubank, for example, added ADA, Near Protocol (CRYPTO:NEAR), Cosmos Hub (CRYPTO:ATOM), and Algorand (CRYPTO:ALGO) for its 100 million Latin American clients in March.

Interactive Brokers’ move underscores a sector-wide push to meet demand for diversified digital asset exposure.

As regulatory clarity improves, platforms are prioritising user-friendly infrastructure.

Zero Hash’s global reach and Paxos’ compliance expertise position Interactive Brokers to cater to both retail and institutional traders.

The brokerage’s focus on low fees and expanded offerings highlights its strategy to compete in a maturing market.

While volatility persists due to macroeconomic uncertainties, Interactive Brokers’ expansion aligns with broader trends of institutional crypto integration.

The firm’s ability to balance accessibility with regulatory compliance will likely influence its standing in the evolving financial landscape.