OANDA, a global brokerage firm, has officially expanded its offerings to include cryptocurrency trading in the United Kingdom. The new platform, named OANDA Crypto, is situated in London and boasts registration with the UK’s Financial Conduct Authority (FCA). This move follows OANDA’s acquisition last year of Coinpass, a crypto firm already registered with the FCA, paving the way for OANDA’s foray into the crypto market.
Expanding Crypto Trading Offerings
OANDA Crypto aims to provide traders with access to over 63 cryptocurrency pairs, featuring prominent cryptocurrencies like Bitcoin, Ether, and Ripple. The platform has ambitions to broaden its token offerings and introduce additional features throughout the year, signifying a robust plan for growth and expansion in the crypto trading space.
Embracing Regulatory Standards
Unlike some crypto companies that might shy away from heavily regulated markets, OANDA sees the UK’s regulatory environment as a compelling advantage. Lucian Lauerman, OANDA’s head of digital assets, highlighted the UK market’s high level of participation and sophistication as key factors in their decision to establish OANDA Crypto in London. The firm appreciates the UK’s rising alignment with the regulatory standards of markets where OANDA traditionally operates, recognizing the value of a higher regulatory bar.
OANDA’s Broader Crypto Strategy
In addition to its UK operations, OANDA has already been offering crypto trading services in the United States through a partnership with Paxos, regulated by the New York State Department of Financial Services. Moreover, the brokerage has strategically shifted its focus in mainland Europe from Malta to Warsaw, Poland, following the acquisition and rebranding of Polish broker Dom Maklerski TMS Brokers SA to OANDA TMS. This move underscores OANDA’s commitment to operating within regulated environments and its intention to be at the forefront of the evolving digital assets market.
