New ADA, SOL, XRP, and DOGE Listings on Interactive Brokers May Give the Crypto Market a Boost

The crypto market just got a boost from an unlikely source: Donald Trump. Four cryptocurrencies – ADA, SOL, XRP, and DOGE – are now available on Interactive Brokers

Donald Trump's presence continues to impact the crypto market, and this time, it's in a big way. Well-known electronic brokerage firm Interactive Brokers has announced that it will be adding four cryptocurrencies to its offering.

The four coins—Avalanche's AVAX, Cardano's ADA, Solana's SOL, and XRP—are now available to US and UK clients of Interactive Brokers. They can be traded on the same platform that the firm's clients use for investing in stocks, options, futures, and other financial instruments. This means that users will be able to access all their balances and positions in one integrated interface.

The new additions to Interactive Brokers' crypto offering come as the firm expands its digital assets offering to its clients. It began offering Bitcoin in 2021, and last year, it expanded crypto trading to the UK.

Earlier this year, the firm announced that it would be adding more cryptocurrencies to its platform in the coming months. It seems that this expansion is unfolding faster than anticipated.

Earlier this week, Ben Schachter, an analyst at web3 research firm Defiance Terminal, pointed out that Interactive Brokers clients can now access Cardano, XRP, and Dogecoin on Zero Hash accounts, and Solana on Paxos Trust accounts.

These new listings follow Trump's plans for a US cryptocurrency reserve, which has sparked interest in Solana, Cardano, and XRP. Trump also mentioned these three coins as potential candidates for the reserve.

Moreover, Dogecoin has been a subject of discussion after Trump asked Elon Musk to create a new government department with the same initials as the meme coin.

Although there are no immediate plans for the US government to buy these coins, Trump's executive order paves the way for the establishment of a Bitcoin reserve using coins seized by the government in its investigations.