Interactive Brokers confirms IBG LLC’s application for industrial bank authorization

Maria Nikolova

The applicant proposes to engage in business from existing commercial office space in South Jordan, Utah.

license

Online trading major Interactive Brokers Group, Inc. (NASDAQ:IBKR) has earlier today posted a filing with the Securities and Exchange Commission (SEC), highlighting some interesting business plans.

On November 1, 2019, IBG LLC published a public notice in the Deseret News and the Salt Lake Tribune that it had filed an application with the Federal Deposit Insurance Corporation and the Utah Department of Financial Institutions on October 30, 2019 to form a new Utah industrial bank.

In accordance with Section 303.7 of the regulations of the Federal Deposit Insurance Corporation, and Utah Admin. Code R331-17-3, a public notice was given that IBG LLC has, on behalf of a proposed depository institution to be named Interactive Bank, filed an application for federal deposit insurance with the FDIC.

IBG LLC has also filed an application for authorization to commence business as an industrial bank with the Commissioner of the Utah Department of Financial Institutions. The applicant proposes to engage in business from existing commercial office space in South Jordan, Utah. The organizer of Interactive Bank is IBG, headquartered at One Pickwick Plaza, Greenwich, Connecticut, 06830.

Any person wishing to comment on IBG’s application may file his or her comments in writing with the regional director of the Federal Deposit Insurance Corporation at its San Francisco regional office located at 25 Jessie Street at Ecker Square, Suite 2300, San Francisco, CA 94105-2780, not later than 30 days after the date of publication of the notice, and with the Commissioner of the Utah Department of Financial Institutions, 324 South State Street, Suite 201, Salt Lake City, Utah 84111, not later than twenty days after the publication of the notice.

Read this next

Institutional FX

CLS FX volume continues downward trend in August

Total daily traded volume submitted to CLS for settlement took yet another step back in August.

Digital Assets

Huobi taps AstroPay to facilitate fiat-to-crypto payment in Latin America

Huobi, the world’s sixth-largest crypto exchange by trading volume, has recently partnered with payment solution provider AstroPay to launch local currency account deposits and withdrawals in Latin America.

Digital Assets

Crypto exchange FTX to raise $1 billion at flat valuation of $32 billion

FTX is reportedly in discussions with a clutch of heavyweights from traditional finance to raise up to $1 billion in fresh funding to fuel more deal-making.

Digital Assets

Revolut US launches trading on Avalanche, Solana, and Dogecoin

British fintech and banking firm Revolut has further expanded its cryptocurrency offering in the US with the addition of 29 new tokens.

Digital Assets

Bahrain greenlights eazyPay to launch Binance Pay

The Central Bank of Bahrain has blessed a new partnership inked by Binance with Eazy Financial Services ‘eazyPay’, a local POS and online payment service provider. The greenlight enables EazyPayto to launch Bitcoin and cryptocurrency payments in the region.

Digital Assets

Coinbase approved to offer crypto for Dutch users

Nasdaq-listed crypto exchange operator Coinbase has been handed regulatory approval to operate as a crypto service provider in the Netherlands.

Metaverse Gaming NFT

AC Milan partners with Solana-based NFT football game MonkeyLeague

“Partnering with champions like AC Milan, an absolute iconic Club throughout footballs history, is another testament to what we are building and where we are headed as a game and game studio. It also represents a key step in our plans to bridge the Web2 and Web3 worlds.”

Digital Assets

Shariah-compliant Islamic Coin to support SDG-compliant ventures, green projects, and philanthropy

Shariah-compliant Islamic Coin has recently launched a collaboration with the World Green Growth Organization and the International Youth Conference 6, taking place on September 22-25th and September 30th-October 1st, 2022, in New York. 

Market News

Week ahead: US core PCE and eurozone CPI 

We heard from a range of central banks last week and the update sparked big moves in the markets, and the bulk of the volatility was in currencies.

<