OANDA Launches UK Crypto Trading Platform for Retail and Institutional Traders
Veteran forex brokerage OANDA has entered the cryptocurrency market by launching a trading platform specifically tailored for customers in the UK. The platform, called OANDA Crypto, is registered with the country’s Financial Conduct Authority (FCA) and offers retail and institutional traders easy access to a wide range of digital asset investing and trading services.
TLDR
- OANDA has launched a cryptocurrency trading platform called OANDA Crypto in the UK
- The platform is registered with the FCA and provides access to over 63 cryptocurrency pairs
- OANDA acquired Coinpass last year to integrate its technology and regulatory foundations
- The platform offers banking integration for seamless deposits and withdrawals between UK bank accounts and crypto wallets
- OANDA chose the UK due to its strong participation in crypto markets and alignment with their traditional forex markets
OANDA’s entry into the crypto market comes after the company acquired a majority stake in Coinpass, an FCA-approved crypto company, last year. This acquisition allowed OANDA to integrate Coinpass’ technological infrastructure and regulatory foundations, resulting in a unified crypto trading experience that combines OANDA’s decades of market expertise with Coinpass’ specialized digital asset product suite.
At launch, OANDA Crypto supports trading in over 63 cryptocurrency pairs, including popular assets like Bitcoin, Ethereum, and XRP. The platform offers a diverse selection of tokens from both centralized and decentralized exchange ecosystems, catering to both major and altcoin traders. OANDA plans to expand its offerings over time as adoption of cryptocurrencies continues to grow.
In addition to its wide range of assets, OANDA Crypto leverages Coinpass’ connections to traditional banking systems to enable seamless deposits and withdrawals between UK bank accounts and crypto wallets. This integration with fiat gateways is crucial for attracting mainstream users who are more accustomed to traditional payment methods.
For experienced traders, the platform provides sophisticated trading tools such as dynamic charting and indicators powered by TradingView, a leader in market analysis. At the same time, OANDA Crypto aims to be user-friendly for beginners by offering educational resources and an intuitive user interface design.
OANDA’s decision to target regulated jurisdictions for its crypto expansion aligns with its background in regulated forex and CFD markets. While many crypto-native firms prefer less regulated environments for faster launches, OANDA believes that strict standards imposed by authorities like the FCA enhance credibility and trust in the industry.
The FCA has implemented stricter guidelines on crypto promotion and advertising since late 2022, leading to temporary shutdowns of some crypto companies. However, OANDA sees this proactive approach by the FCA as a validation of the UK as a sophisticated market with trustworthy operators. The company’s head of digital assets highlights that British traders are knowledgeable about crypto, similar to their traditional forex counterparts, making expansion under existing regulations more appealing despite entry barriers.
Furthermore, OANDA relocated its European arm from Malta to Poland last year, choosing a more stringent regulatory environment to ensure trustworthiness. With established presence in the US, UK, and EU, OANDA is fully committed to driving cryptocurrency adoption within these valuable financial trading blocs.
Hot Take: OANDA Expands Crypto Offering in the UK
OANDA’s launch of a cryptocurrency trading platform tailored for customers in the UK marks another significant step in the company’s foray into the crypto market. By leveraging its expertise in forex trading and acquiring Coinpass’ technology and regulatory foundations, OANDA is well-positioned to provide a seamless and trustworthy crypto trading experience for both retail and institutional traders.
The platform’s support for over 63 cryptocurrency pairs, including major assets like Bitcoin and Ethereum, offers a diverse range of trading opportunities. With plans to expand its offerings in the future, OANDA Crypto aims to cater to the evolving needs of the crypto community as adoption continues to grow.
Moreover, OANDA’s decision to target regulated jurisdictions like the UK demonstrates its commitment to credibility and trust in the industry. By complying with strict regulatory standards, OANDA ensures that its customers can trade cryptocurrencies with confidence.
Overall, OANDA’s entry into the UK crypto market reinforces its position as a leading brokerage firm that adapts to emerging trends and customer demands. Whether you’re a seasoned investor or a beginner looking to enter the world of cryptocurrencies, OANDA Crypto provides a user-friendly platform with robust trading tools and access to a wide range of digital assets.
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