Global brokerage firm OANDA has recently announced the launch of its cryptocurrency trading platform, OANDA Crypto, in the UK. This initiative is backed by the Financial Conduct Authority (FCA) registration and is situated in London. The establishment of OANDA Crypto is a result of the acquisition of a majority stake in Coinpass, a FCA-registered crypto firm, which took place last year.
OANDA Crypto will provide a trading platform for over 63 cryptocurrency pairs, including popular options like Bitcoin, Ether, and Ripple. The platform also plans to introduce more tokens and features throughout the year to enhance the trading experience for its users. This move demonstrates OANDA’s commitment to expanding its presence in the cryptocurrency market.
Unlike some crypto companies that avoid heavily regulated jurisdictions, OANDA finds the UK market appealing due to its high level of participation and strong regulatory framework. Lucian Lauerman, OANDA’s head of digital assets, noted that the UK market aligns well with the company’s traditional operating markets and offers a higher regulatory standard.
In addition to launching OANDA Crypto in the UK, OANDA also offers cryptocurrency trading in the U.S. through a partnership with Paxos, regulated by the New York State Department of Financial Services. The company has also shifted its mainland Europe operations to Poland with the acquisition of Dom Maklerski TMS Brokers SA, now known as OANDA TMS. These strategic moves position OANDA as a key player in the global cryptocurrency trading space.
