Quick take:
- Interactive Brokers is teaming up with Zero Hash to bring crypto custody to its clients.
- New traders enrolling for crypto trading on the broker’s platform will use crypto trading and custody services provided by Zero Hash.
- Interactive Brokers invested in Zero Hash’s $105 million Series D round announced in January 2022.
Interactive Brokers Group Inc. (IBKR) is doubling down on its crypto trading services with a new partnership with Sero Hash. The US-based online brokerage services provider has tapped the web3 infrastructure and tooling provider to enhance its crypto trading and custody services.
According to the announcement, this partnership will allow select new traders enrolling for crypto trading services to leverage Zero Hash’s crypto trading and custody services, enabling a seamless crypto trading experience.
Interactive Brokers clients will be able to buy, sell and hold Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC) through an account they open with Zero Hash.
This announcement follows the launch of EDX Markets, a crypto exchange trading platform founded by some of the biggest US financial institutions in June. The Charles Schwab, Citadel Securities, Fidelity Digital AssetsSM, Paradigm, and Sequoia Capital-backed platform also supports crypto trading for BTC, ETH, BCH and LTC.
In the IBKR and Zero Hash collaboration, the Nasdaq-listed trading platform will manage client interaction while Zero Hash will manage the complexity of custody, liquidity and licensing of digital assets.
The crypto custody and infrastructure company will also provide IBKR clients with access to robust liquidity, crypto custody and market data, IBKR said in a statement on Wednesday.
Commenting on the announcement, Milan Galik, the Chief Executive Officer of Interactive Brokers said: “Since 2021, clients of Interactive Brokers have been able to trade cryptocurrency alongside the many other asset classes we offer, and the collaboration with Zero Hash underscores our dedication to providing clients the ability to seamlessly allocate part of their portfolio to cryptocurrency.”
Interactive Brokers was one of the investors in Zero Hash’s $105 million Series D round announced in January 2022. The broker boasts $377 billion in assets under custody, making it one of the biggest online brokers in the world.
Edward Woodford, Zero Hash Founder and CEO commented: “IBKR was one of the leading FinTechs before the term even existed, having been founded in the 1970s and has become one of the most valuable companies in the world. We are pleased that IBKR became a shareholder and partner, cementing Zero Hash as the most trusted and sophisticated B2B2C crypto-as-a-service infrastructure.”
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- Source: https://www.nftgators.com/interactive-brokers-taps-zero-hash-to-integrate-crypto-custody-services/
