Interactive Brokers adds XRP and expands crypto offerings amid changing leadership stance

Interactive Brokers expands its cryptocurrency trading platform to include XRP, Solana, and Dogecoin. The firm, a major U.S. brokerage, initially launched crypto trading in September 2021 with Bitcoin, Ethereum, Bitcoin Cash, and Litecoin. The addition of XRP, Solana, and Dogecoin reflects a response to growing client demand.

Interactive Brokers, based in Greenwich, Connecticut, confirmed the expansion in a recent statement. This marks a significant broadening of its crypto offerings since its initial launch. The platform's expansion followed the October 2021 extension of crypto trading services to financial advisors, facilitated by a partnership with Paxos.

The firm's approach to cryptocurrency has evolved. While founder and major shareholder Thomas Peterffy previously expressed skepticism, describing crypto activity as "very very slow" and characterizing cryptocurrencies as worthless, his views have shifted. He now publicly recommends Bitcoin ownership, suggesting a portfolio allocation of up to 3%, while cautioning against exceeding 10% due to market volatility. Although no longer CEO, Peterffy's influence on the firm's strategy remains significant. The measured expansion of Interactive Broker's crypto offerings reflects a careful balancing of client demand and perceived risk.