Interactive Brokers Enhances Crypto Offerings with Zero Hash Partnership

<p>Seeking to
appeal to a growing base of Bitcoin (BTC) and other cryptocurrency enthusiasts,
Interactive Brokers Group, Inc. (Nasdaq: <a href="https://www.financemagnates.com/tag/interactive-brokers/" target="_blank" rel="follow">IBKR</a>) has teamed up with Zero Hash, a
crypto infrastructure platform. The collaboration aims to provide additional
crypto trading services by integrating Zero Hash's full-stack API. This move
will benefit select customers who are newly enrolling for crypto trading,
offering them access to Zero Hash's trading platform and custody services.</p><p>Interactive Brokers Boosts
Crypto Offering with Zero Hash</p><p>Zero Hash's
technology will enable Interactive Brokers' clients to buy, sell, and hold
multiple <a href="https://www.financemagnates.com/terms/c/cryptocurrencies/">cryptocurrencies</a>, including Bitcoin, Ethereum, Bitcoin Cash, and
Litecoin. Zero Hash will manage the complexities of crypto custody, liquidity,
and licensing, while Interactive Brokers will handle client interactions. The
collaboration is expected to offer additional liquidity and market data to
Interactive Brokers' clients.</p><p>IBKR has a
long-standing reputation for offering advanced technology and a wide range of
global products to experienced traders and institutional investors. Milan
Galik, the CEO of Interactive Brokers, emphasized that the partnership with
Zero Hash is a testament to the company's commitment to enabling clients to
diversify their portfolios with cryptocurrency.</p><blockquote><p lang="en" dir="ltr">Interactive Brokers (IBKR) collaborates with Zero Hash to enhance crypto trading.Zero Hash’s solution enables IBKR customers to buy, sell and hold Bitcoin, Ethereum, Bitcoin Cash and Litecoin. Read more about the partnership in our press releasehttp://bit.ly/3sUIYKJ <a href="https://t.co/UMZrD5dSSf">pic.twitter.com/UMZrD5dSSf</a></p>— Zero Hash (@ZeroHashX) <a href="https://twitter.com/ZeroHashX/status/1704105920593113211?ref_src=twsrc%5Etfw">September 19, 2023</a></blockquote><p>"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 allocate
part of their portfolio to cryptocurrency seamlessly," Galik added.</p><p>In
addition, Zero Hash's infrastructure will power Interactive Brokers'
Central Limit Order Book (CLOB), backed by tier 1 liquidity providers like
Stillman Digital, Amber Technologies, and DV Chain. Zero Hash's platform is
designed to handle the backend complexity and regulatory licensing required to
offer crypto products.</p><p>Edward
Woodford, the Founder and CEO of Zero Hash, expressed his enthusiasm for the
partnership, stating that Interactive Brokers has been a pioneer in FinTech
since the 1970s. </p><p>"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,"
Woodford concluded.</p><p>Expanding Crypto Services
to Increase IBKR's Client Base</p><p>In July, Finance
Magnates reported that Interactive Brokers saw a year-over-year
increase of 24% in its client base, <a href="https://www.financemagnates.com/institutional-forex/interactive-brokers-client-base-jumps-19-in-a-year-to-229-million/" target="_blank" rel="follow">reaching 2.29 million</a>. To continually attract new
investors and consumers, IBKR is exploring new markets and products to entice
the younger generation of investors. This is one reason the firm is expanding
its cryptocurrency services, which it has offered for over two years. In early
2023, <a href="https://www.financemagnates.com/forex/brokers/interactive-brokers-launches-crypto-trading-in-hong-kong/" target="_blank" rel="follow">the broker launched crypto trading in Hong Kong</a>. </p><p>David
Friedland, the Head of APAC at Interactive Brokers, stated in February that
investor demand for digital assets is growing both in Hong Kong and globally,
and they are pleased to offer cryptocurrency trading to meet client needs in
this key market.</p><p>As for Zero
Hash, the cryptocurrency company recently strengthened its team by <a href="https://www.financemagnates.com/executives/william-klippel-former-gain-capital-exec-joins-zero-hash/" target="_blank" rel="follow">adding
former GAIN Capital executive William Klippel</a> as the Vertical Head of
Investment Platforms. He brings nearly 20 years of industry experience to the
role. Last year, <a href="https://www.financemagnates.com/cryptocurrency/news/zero-hash-secures-105-million-in-series-d-funding-round/" target="_blank" rel="follow">the company secured $105 million</a> in a Series D <a href="https://www.financemagnates.com/terms/f/funding-round/">funding round</a>,
bringing its total funding to approximately $165 million to date.</p>

This article was written by Damian Chmiel at www.financemagnates.com.