Jai Sahu
- International brokerage company OANDA is now officially launching its crypto trading services in the UK.
- Situated in London, OANDA Crypto is registered with the FCA, a status achieved through the acquisition of Coinpass last year.
The American forex leader, OANDA, is introducing a crypto trading platform in the UK, secured under the regulation of the Financial Conduct Authority (FCA) and named OANDA Crypto, positioned in London.
This move follows the purchase of a significant portion of Coinpass, an FCA-approved crypto business, last year. It will provide transactions in over 63 crypto pairs such as Bitcoin, Ether, and Ripple, with intentions to include additional tokens and functionalities as the year progresses, according to the company.
While many crypto-centric enterprises avoid heavily regulated areas like the U.S., OANDA finds this aspect appealing, stated Lucian Lauerman, the company’s digital assets director.
“The UK has a significant and well-informed active market,” Lauerman mentioned in a discussion. “Our attraction to the UK’s crypto space is its alignment with markets we traditionally serve. The regulatory standards are somewhat more elevated here.”
OANDA also extends crypto services in the U.S. through a collaboration with Paxos, regulated by the New York State Department of Financial Services. Furthermore, the brokerage shifted its focus in mainland Europe from Malta to Warsaw, Poland, by acquiring Polish brokerage Dom Maklerski TMS Brokers SA, now known as OANDA TMS.