Interactive Brokers Group brings cryptocurrency trading to clients

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Interactive Brokers Group brings cryptocurrency trading to clients

Interactive Brokers Group has announced that it is bringing cryptocurrency trading for registered financial advisors RIAs. RIAs will now be able to deal with a variety of cryptocurrencies for their clients.

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Clients of RIAs using the platform will have access to Bitcoin, Ethereum, Litecoin and Bitcoin Cash.

The announcement claims that RIAs will be able to manage all of a client's portfolio, from stocks and ETFs to crypto, through one unified platform on a single screen. The trading and custodial services at Interactive Brokers will be provided by the Paxos Trust Company, a crypto company offering an exchange, tokenization services, settlement, custody and more.

Steve Sanders, EVP of Marketing and Product Development at Interactive Brokers, said that cryptocurrency has become a well-diversified component of a common portfolio and that the company wishes to provide RIAs with all the tools they need for success.

Allocating a small percentage of assets to cryptocurrency as part of a well-diversified portfolio has steadily become more commonplace, and advisors may wish to recommend cryptocurrency to their clients, said Sanders.

Adding cryptocurrency trading underscores our ongoing dedication to providing advisors with investment products and tools that they need to successfully manage client portfolios and grow their businesses. The retail brokerage side of Interactive Brokers has offered cryptocurrency trading through Paxos for some time and has just added the ability to generate RIAs using its platform.