#How Can You Use Stablecoins for Account Funding?
Interactive Brokers has introduced an innovative funding option for eligible clients, allowing them to deposit money into their accounts using stablecoins. This advancement facilitates almost instantaneous transactions, available at any time, including weekends and holidays.
With this new feature, clients can now fund accounts through USD Coin (USDC), with upcoming support for RLUSD and PYUSD expected shortly. This means that deposits can be processed within minutes, enabling traders to engage in transactions across 170 global markets quickly.
To utilize this system, clients can transfer USDC from their personal cryptocurrency wallets to a secure wallet managed by Zerohash. The deposit is then automatically converted into US dollars and credited to the client's brokerage account, simplifying the funding process significantly.
It is important to note that while Interactive Brokers does not impose fees on the stablecoin deposits, clients are responsible for the blockchain network fees involved. Additionally, Zerohash will apply a 0.3% conversion charge per deposit, with a minimum fee of $1.
This feature addresses many challenges typical in traditional cross-border funding methods. Following the announcement, shares of Interactive Brokers saw a nearly 4% increase, reflecting investor confidence in this new service.