OANDA launches FCA-registered OANDA Crypto in the UK
It was last year that OANDA acquired FCA-registered Coinpass, which meant that the global brokerage firm would eventually launch its own branded crypto trading service after successful technology integration.
Oanda Global Corporation has launched OANDA Crypto, a new cryptocurrency trading platform tailored for private investors and traders in the United Kingdom.
OANDA Crypto leverages the FX brokerage firm’s established presence in the online trading, currency data, and analytics sectors to provide a user-friendly and secure trading environment for users.
“Making crypto attractive to UK traders and investors”
The crypto trading platform operates under OANDA Coinpass Limited, registered with the UK Financial Conduct Authority, and supports 24/7 trading in over 63 cryptocurrency pairs, such as Bitcoin, Ether, and Ripple, and is looking to expand its offerings.
UK-based users can easily fund and withdraw from their UK bank accounts, trade with significant liquidity, and enjoy secure storage for their crypto assets. The OANDA Crypto trading app and desktop platform offer advanced trading tools and features, including a broad selection of cryptocurrencies, stablecoins, and extensive charting capabilities powered by TradingView.
Lucian Lauerman, Head of Digital Assets at OANDA, commented: “With OANDA Crypto, we are staying true to our mission of making trading experiences smarter by bringing the reliability, security, and simplicity of our robust trading platforms into an easy-to-use app, making crypto attractive to UK traders and investors of all levels of experience.”
OANDA has been preparing crypto launch since August 2023
It was last year that OANDA acquired FCA-registered Coinpass, which meant that the global brokerage firm would eventually launch its own branded crypto trading service after successful technology integration.
The acquisition complements OANDA’s existing portfolio, which includes offering a broad range of CFD instruments like indices, forex, commodities, metals, and bonds.
OANDA Crypto, via OANDA Coinpass Limited, offers a platform for retail investors, professional traders, and businesses to invest and trade in cryptocurrencies. They provide access to various products, including fiat/crypto, crypto/crypto, and stablecoin pairs through their in-house technology solutions.
The move aligns well with the growing trend of increased cryptocurrency ownership in the UK, which more than doubled in the previous year, as revealed by the FCA’s consumer survey conducted in June 2023. Coinpass was set up five years ago to cater to the increasing demand for access to digital assets in the UK. Since its inception in 2018, the firm has been focused on providing a digital layer that enables smooth transactions between traditional banking and the world of cryptocurrencies.
