OANDA Corporation looks to balance corporate risk by emphasizing data and payments businesses over FX trading

OANDA Corporation CEO Ed Eger views the company’s platform as a data platform rather than a trading platform.

oanda

Technology-led Canadian electronic trading company OANDA Corporation has begun to look toward concentrating more on its data and payments business as CEO Ed Eger considers its platform to be a data platform rather than a trading platform.

With banks currently reducing their services toward firms that make cross-border payments in certain industry sectors and looking continually at increasingly conservative interbank practices, the provision of efficient commercial electronic payments at low cost is vital to many firms and individuals globally.

On this basis, OANDA Corporation expects that it is likely to experience a shift in the core business from which it derives the majority of its revenue from FX trading to data and payments.

Big data plays a large part in FX trading these days, and OANDA Corporation’s recording of data is no exception.

This morning, Mr. Eger explained “I don’t think of our platform as a trading platform, I think of it as a data platform. We record every trade and that is valuable.”

As OANDA Corporation brings forward the latest version of its fxTrade proprietary platform, the company’s alignment with payments and data as a form of major revenue is more of a commercial focus.

“A cross-border payment looks a lot like a one way trade” said Mr. Eger, whose experience in this matter is substantial, having held senior positions at PayPal and Citibank before joining OANDA Corporation in 2013 when he began an institutional effort to expand the payments and data side of the business.

Read this next

Digital Assets

BlockDAG Presale Raises $9.9M as Batch 5 Nears Sell-Out Amid Bonk’s Fluctuating Trading Volume & Spell’s Bullish Price

Explore BONK’s trading volume, SPELL’s market shifts, and why BlockDAG’s 10,000 ROI makes it an ideal crypto for savvy investors in 2024.

Digital Assets

Cathie Wood’s sponsored Bitcoin ETF sees historic $200 million inflows

The ARK 21Shares Bitcoin ETF (ARKB), co-sponsored by Cathie Wood’s ARK Invest, registered historic inflows exceeding $200 million on Wednesday, signaling a robust appetite among investors for Bitcoin-centric investments.

Digital Assets

Sam Bankman-Fried might see his 25-year sentence halved

Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX, was sentenced to 25 years in federal prison by a Manhattan court on Thursday. This comes after he was convicted of defrauding customers and investors, with Judge Lewis Kaplan highlighting the potential future risks posed by Bankman-Fried.

Technical Analysis

EURJPY Technical Analysis Report 28 March, 2024

EURJPY currency pair under the bearish pressure after the pair reversed down from the major resistance level 164.25, which also stopped the sharp weekly uptrend at the end of last year,

Digital Assets

BlockDAG’s Presale Hits $9.9M, MultiversX & MINA Price Predictions Show Green

Read about BlockDAG’s promising $10 prediction and insights on MultiversX Price Prediction as MINA’s potential unfolds.

Digital Assets

Rockstar Co-Founder and All-star Line Up Join Advisory Board to Take Metacade into Post Beta Orbit

Metacade, the revolutionary Web3 gaming platform, prepares to streak out of beta with a slew of ground-breaking initiatives that will redefine the way blockchain games are developed.

Retail FX

Prop firm The Funded Trader shuts down, claims relaunch in April

Prop trading firm The Funded Trader has ceased all operations, with claims for a relaunch in the near future.

Digital Assets

Ethereum-Based Tokenized Real Estate Platform USP Launches On Republic

How This Californian Startup Is Revolutionizing Real Estate Investment through Ethereum-Based Tokenization.

Digital Assets

Sui Spikes in Weekly DEX Volume, Joins Top 10 of All Blockchains

March DEX volume on Sui stands at over $2.88B – up more than 49% from February – with decentralized exchange Cetus and wholesale liquidity layer DeepBook leading.

<