tl;dr
OANDA, a U.S.-based forex pioneer, is expanding its operations to include a cryptocurrency trading platform in the UK. This platform, known as OANDA Crypto, is based in London and has obtained registration with the Financial Conduct Authority (FCA) through the acquisition of Coinpass. The company pl...
OANDA, a U.S.-based forex pioneer, is launching a cryptocurrency trading platform in the UK. This platform, known as OANDA Crypto, is based in London and has obtained registration with the Financial Conduct Authority (FCA) through the acquisition of Coinpass. The company plans to offer trading in over 63 cryptocurrency pairs, including popular options like Bitcoin, Ether, and Ripple, with potential for more tokens and features to be added in the future. This expansion into the UK market aligns with OANDA's strategic move away from Malta to Poland and its existing crypto offering in the U.S. through a partnership with Paxos.
The opening of OANDA Crypto marks a significant move by the company to gain a foothold in the UK's cryptocurrency market. With strong participation and an active market, the UK presents an attractive opportunity for OANDA to expand its operations. Additionally, the UK's higher regulatory standards make it more aligned with the markets where OANDA has traditionally operated. This expansion also follows OANDA's refocusing of its operations in mainland Europe from Malta to Poland, indicating a strategic realignment of the company's business operations.
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