Interactive Brokers launches low-cost crypto trading through Paxos

Brokerage firm Interactive Brokers Group (NASDAQ:IBKR) launches cryptocurrency trading for its clients through Paxos Trust, a regulated blockchain infrastructure platform. Through Paxos, IBKR clients will be able to trade and custody Bitcoin ((BTC-USD -4.7%)), Ethereum ((ETH-USD -8.3%)), Litecoin ((LTC-USD -2.0%)), and Bitcoin Cash ((BCH-USD -7.6%)) alongside other asset classes available on the Interactive Brokers (IBKR) platform. Crypto trading with Paxos on IBKR's platform has commissions of 0.12%-0.18% of trade value, depending on monthly volume; that compares with a 2.00% fee for other crypto exchanges. Plus, there's no added spreads, markups, or custody fees, the company said. "In giving our clients access to cryptocurrency trading, we recognize the need to meet the growing investor demand to trade cryptocurrency alongside other asset classes in a convenient and low-cost way," said CEO of interactive Brokers Milan Galik. In June, Interactive Brokers will start cryptocurrency trading in the coming months.