OANDA Launches Crypto Trading Hub in the UK

OANDA, a leading global brokerage, has launched a new cryptocurrency trading platform in the UK named OANDA Crypto. This move follows the acquisition of a majority stake in the Financial Conduct Authority (FCA)-registered crypto firm, Coinpass, last year. Situated in London, OANDA Crypto is now open for trading, offering access to more than 63 cryptocurrency pairs, including popular options like Bitcoin, Ether, and XRP. The platform plans to expand its offerings with additional tokens and features throughout the year.

The establishment of OANDA Crypto in the UK, a country known for its rigorous regulatory standards, represents a strategic expansion for the U.S.-based forex giant. Lucian Lauerman, OANDA’s head of digital assets, emphasized the appeal of the UK market due to its high level of crypto participation and market sophistication. He noted, “The UK has a high level of participation and is a very well educated and active market. 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.”

OANDA’s venture into the UK’s crypto market aligns with its broader strategy to adapt to regulated markets. Already offering crypto trading services in the U.S. through a partnership with Paxos, regulated by the New York State Department of Financial Services, OANDA is no stranger to navigating strict regulatory environments. Additionally, the firm has 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.