Interactive Brokers plans to start cryptocurrency trading in coming months

Interactive Brokers ([[IBKR]] +1.4%) plans to start trading cryptocurrencies on its platform by the end of the summer, CNBC reports, citing Chairman and CEO Thomas Peterffy's comments at the Piper Sandler Global Exchange & FinTech Conference.“Customers certainly are asking for [crypto trading] and we expect to be ready to offer it to them by the end of the summer,”Peterffy said.That would put the company in direct competition with Coinbase Global (COIN) the world's largest crypto exchange; COIN stock falls 1.4% in early trading.Yesterday, Raymond James put out a Sell rating on Coinbase with the expectation that new competitors in the space will degrade pricing.