Paxos launches financial advisor feature on Crypto Brokerage solution

Rick Steves

Only 15% of financial advisors were allocating crypto in client accounts, but 94% of financial advisors received questions about crypto from clients, according to recent survey data. 


Paxos has launched financial advisor crypto trading within Paxos Crypto Brokerage, allowing broker-dealers to provide a comprehensive wealth management solution to financial advisors so that they can seamlessly trade crypto on behalf of their clients.

Brokers will now be able to help advisors and their clients overcome the barriers to accessing the fastest-growing asset class by leveraging the regulated blockchain infrastructure platform, Paxos.

Interactive Brokers, a leading online trading brokerage with more than $320 billion in assets under custody, has already launched access to the financial advisory crypto trading to provide crypto access to this key customer segment. IBKR first partnered with Paxos in September 2021.

Steve Sanders, EVP of Marketing and Product Development at Interactive Brokers, commented: “We are pleased to offer access to cryptocurrency markets for those financial advisors who would like to make digital assets a part of their clients’ portfolios. Enabling cryptocurrency trading alongside the many other asset classes available on the Interactive Brokers platform, is yet another example of our continued focus on providing financial advisors with the products and tools they need to build successful businesses.”

94% advisors are questioned about crypto

Walter Hessert, Head of Strategy of Paxos, said: “Crypto is growing in every sector, and we’re proud to provide this new platform that gives financial advisors access to crypto for their clients. As interest in crypto continues to grow, it’s important to recognize that technology will underscore a company or industry’s success in this space. Our goal is to provide our clients with the ability to seamlessly access crypto safely and efficiently.”

Only 15% of financial advisors were allocating crypto in client accounts, but 94% of financial advisors received questions about crypto from clients, according to recent survey data.

Paxos is addressing the growing demand and making crypto trading at the disposal of financial advisors via broker-dealers, who can provide a seamless experience for advisors and their clients. The platform includes tax, allocation, settlement and commission functionality that also adheres to pricing requirements across other asset classes.

Paxos Crypto Brokerage provides broker-dealers with the ability to enable registered advisors (RAs) and financial advisors (FAs) to trade or manage end user assets at their discretion including trade allocations, verify the identity of RAs or FAs to satisfy compliance requirements through independent sanctions screening, and attach an RA or FA to every transaction to create a clear record of discretion for each trade.

The blockchain infrastructure platform has offices in New York, London and Singapore, and powers tokenization, custody, trading, and settlement of assets.

Paxos is behind enterprise blockchain solutions for institutions like PayPal, Interactive Brokers, Meta, Mastercard, MercadoLibre, Bank of America, Credit Suisse, Societe Generale and Revolut.

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