US-based forex broker OANDA has announced its foray into the
cryptocurrency trading realm in the United Kingdom with the launch of its new
platform, OANDA Crypto. The platform, registered with the country’s financial
regulator, the Financial Conduct Authority (FCA), is poised to offer an array
of cryptocurrency trading options to British investors.
The establishment of OANDA Crypto represents the culmination
of last year’s acquisition of a majority stake in FCA-registered crypto firm
Coinpass. This strategic move positions OANDA to tap into the burgeoning crypto
market in the UK, which has witnessed a surge in interest and participation.
OANDA
Crypto is set to facilitate trading in over 63 cryptocurrency pairs, featuring
popular digital assets such as Bitcoin, Ether, and Ripple. The company has
outlined plans to incorporate additional tokens and introduce new features
throughout the year, catering to the evolving needs and preferences of crypto
traders.
Journey from US to the UK and Mainland Europe
Lucian Lauerman, OANDA’s head of digital assets, emphasized
the allure of the UK market, citing its high level of participation and
sophisticated investor base. In an interview, Lauerman stated: “What we liked
about the opportunity in the UK, when it comes to crypto, is that it’s becoming
more aligned with the markets where we’ve traditionally operated. The
regulatory bar has been set slightly higher.”
Global trading firm @OANDA is opening an FCA-registered crypto division in the UK.
By @IanAllison123https://t.co/KCmSVealIu
— CoinDesk (@CoinDesk) February 26, 2024
OANDA’s expansion into the UK follows its existing presence
in the US crypto market through a partnership with Paxos, regulated by the New
York State Department of Financial Services. Furthermore, the company has
realigned its operations in mainland Europe by relocating from Malta to Warsaw,
Poland. This strategic move was facilitated by the acquisition of Polish broker
Dom Maklerski TMS Brokers SA, which has been rebranded as OANDA TMS.
US-based forex broker OANDA has announced its foray into the
cryptocurrency trading realm in the United Kingdom with the launch of its new
platform, OANDA Crypto. The platform, registered with the country’s financial
regulator, the Financial Conduct Authority (FCA), is poised to offer an array
of cryptocurrency trading options to British investors.
The establishment of OANDA Crypto represents the culmination
of last year’s acquisition of a…
