Interactive Brokers Expands Its Crypto Offerings to Include Solana (SOL), Cardano (ADA), XRP, and Dogecoin

Since Donald Trump's election, crypto has rapidly become mainstream in investment circles.

Online trading platform Interactive Brokers is expanding its crypto offerings with the addition of Solana, Cardano, XRP, and Dogecoin to its platform.

These new additions will expand the platform’s crypto portfolio to eight coins in total. Currently, Interactive Brokers offers Bitcoin, Ethereum, Litecoin, and Bitcoin Cash through a partnership with Paxos.

The platform notes that these crypto assets will be available for trading in US dollar pairs.

The platform’s expansion of its crypto portfolio comes as the administration is expanding its focus on crypto policy.

This includes Donald Trump’s plans for a crypto reserve, which would include contributions of Solana, Cardano, and XRP from members of the public. These coins would then be used to fund government programs and services.

Elon Musk, who is serving as an advisor to Trump on crypto matters, has also been a major promoter of Dogecoin.

Why Interactive Brokers Is Expanding Its Crypto Offerings

The platform’s original offering included less risky tokens from a regulatory compliance standpoint. For example, former SEC Chair Gary Gensler stated that he did not consider some proof-of-work tokens, like Bitcoin, to be securities.

However, the new administration has shifted crypto policy significantly. This applies specifically to the tokens Trump mentioned in his crypto reserve announcement. This move could be understood as an official stamp of approval for these assets.

Additionally, Trump is involved in crypto ventures personally through World Liberty Financial.

Interactive Brokers operates the largest digital trading platforms in the US, processing an average of 3 million daily trades. Unlike platforms like Robinhood, which are more retail-oriented, Interactive Brokers caters to sophisticated traders who typically command more capital. This could increase liquidity for these tokens.

Despite the announcement, these specific altcoins have declined over the last 24 hours. Solana is down 4.85%, XRP 3.05%, Cardano 2.52%, and Dogecoin 4.77%.