OANDA Launches Crypto Trading Platform Registered with the FCA in the UK

OANDA Crypto, a new cryptocurrency trading platform in the UK

OANDA, a trailblazer in the forex market in the United States, has made a significant move by launching a cryptocurrency trading platform in the United Kingdom. This platform, named OANDA Crypto, marks a pivotal step for the company as it ventures into the burgeoning world of digital currencies. Notably, OANDA Crypto has been registered with the Financial Conduct Authority (FCA), a crucial step that underscores the platform's commitment to compliance and security in one of the world's leading financial hubs.

OANDA acquires the majority of Coinpass, adds 63 crypto pairs

The inception of OANDA Crypto is the culmination of OANDA's strategic acquisition last year, where it secured a majority stake in Coinpass, a crypto firm already registered with the FCA. This acquisition not only facilitated OANDA's smooth entry into the crypto space but also leveraged Coinpass's established presence and expertise in the UK's digital asset market.

At launch, OANDA Crypto will offer an impressive array of over 63 cryptocurrency pairs, including major tokens like Bitcoin (BTC), Ether (ETH), and Ripple (XRP). This diverse offering caters to both seasoned traders and those new to the cryptocurrency scene. Furthermore, OANDA has ambitious plans to expand its offerings, with additional tokens and enhanced platform features slated for release throughout the year.

Why OANDA choose the UK for its cryptocurrency trading platform, despite the heavy regulations?

Choosing the UK as the base for its cryptocurrency trading operations was a deliberate move for OANDA. The firm's head of digital assets, Lucian Lauerman, highlighted the UK's sophisticated market and its high level of crypto participation as key factors in this decision. Lauerman praised the UK market for its well-educated and active crypto trading community, noting that the country's regulatory framework is increasingly aligning with the areas where OANDA has traditionally excelled.

The UK's approach to crypto regulation, which sets a higher bar compared to other jurisdictions, was not a deterrent but rather an attractive feature for OANDA. This strategic alignment with a stricter regulatory regime demonstrates OANDA's commitment to offering secure and compliant trading services, aligning with the broader trends of market maturation and regulatory clarity in the cryptocurrency sector.

The launch of OANDA Crypto is poised to make a substantial impact on the cryptocurrency trading landscape in the UK. By operating within a well-regulated environment, OANDA is setting a precedent for other platforms looking to offer similar services in heavily regulated markets. This move could potentially pave the way for a new standard in the integration of traditional financial services with the innovative world of digital assets.