OANDA Launches Crypto Trading Services in UK Amid Regulatory Changes

US-based cryptocurrency brokerage firm OANDA introduces crypto trading services in the United Kingdom through its subsidiary, OANDA Crypto. The platform offers trading for over 63 cryptocurrency pairs, with plans for expansion.

The entry of OANDA Crypto provides trading services for various cryptocurrencies in the UK market

OANDA Crypto enters the UK market with a focus on offering trading services for a wide range of cryptocurrencies. In addition to popular options like Bitcoin and Ether, the platform aims to cater to diverse investor preferences by including a variety of tokens. This approach reflects OANDA's commitment to providing comprehensive trading options to its users. Moreover, the company plans to introduce additional features to enhance the trading experience, signaling its intention to evolve and adapt to the ever-changing crypto landscape.

OANDA expands its business to the UK market and strengthens its European operations

Following its successful venture into US crypto trading with Paxos, OANDA expands its operations to the UK. This strategic move is part of the company's broader expansion strategy, which includes relocating its European operations to Warsaw, Poland. Moreover, OANDA strengthens its presence in Europe by acquiring TMS Brokers SA and subsequently rebranding it to OANDA TMS. This acquisition enables OANDA to further establish its foothold in the European market and broaden its offerings to customers in the region.

OANDA flexes its muscles in tightly regulated regions

OANDA strategically targets regions with stringent regulations, first focusing on the US and now extending to the UK. This comes as several crypto companies withdraw from the UK due to new FCA guidelines on crypto advertising.

The new advertising rules by the FCA prompt companies like Bybit and Revolut to temporarily suspend their operations in the UK

Regulations prompt companies like Bybit and Revolut to suspend UK operations, citing FCA's new advertising rules. Firms must now be FCA-registered to promote their services, with a focus on cautioning potential investors about risks. This regulatory shift underscores the need for crypto firms to adapt quickly to changing compliance requirements. Additionally, it highlights the importance of transparency and investor protection in the cryptocurrency market. As companies navigate these regulatory changes, they must prioritize compliance to maintain trust and credibility among investors.

The industry faces regulatory scrutiny

The FCA identifies non-compliance among crypto firms, issuing numerous consumer alerts against unlawful promotions. Between October and December 2023, 450 alerts were issued, highlighting the regulatory scrutiny faced by the industry.

OANDA holds a positive outlook on the future market in the UK

Despite challenges, OANDA's head of digital assets, Lucian Lauerman, views the UK market positively. He sees it as educated and dynamic, aligning with traditional markets and indicating a higher regulatory standard.