Unveiling a FCA-Registered Cryptocurrency Trading Platform
In a groundbreaking move, OANDA, a prominent US-based forex pioneer, has launched OANDA Crypto, a cryptocurrency trading platform in the United Kingdom. This venture marks a significant milestone for the company, as OANDA Crypto is duly registered with the Financial Conduct Authority (FCA), the esteemed financial regulatory body in London.
The Acquisition of Coinpass: A Strategic Expansion
Prior to establishing OANDA Crypto, the company strategically acquired a majority stake in Coinpass, a reputable FCA-registered crypto firm. This acquisition enabled OANDA to offer a robust offering of over 63 cryptocurrency pairs, encompassing prominent digital assets such as Bitcoin, Ether, and Ripple. With plans to introduce additional tokens and features throughout 2024, OANDA Crypto is poised to become a formidable player in the UK’s cryptocurrency market.
Embracing Regulation: A Competitive Edge in a Dynamic Marketplace
While some crypto-focused entities shy away from heavily regulated environments like the US and other jurisdictions, OANDA embraced the UK’s regulatory framework as an advantage. Company officials highlighted the UK’s high participation levels, sophisticated market dynamics, and growing alignment with established financial markets. The presence of clear regulatory guidelines and oversight was seen as a positive factor, providing a level of stability and trust for traders.
Expanding Horizons: OANDA’s Global Footprint
OANDA’s foray into the UK cryptocurrency market is not its first international venture. The company already offers crypto trading in the US through its partnership with Paxos, a New York State Department of Financial Services-regulated entity. Additionally, OANDA refocused its mainland Europe operations from Malta to Warsaw in Poland, further expanding its global presence.
OANDA FX Payments: Enhancing Cross-Border Transactions
OANDA’s commitment to innovation extends beyond cryptocurrency. In January 2021, the company collaborated with Currencycloud to launch OANDA FX Payments, an international money transfer service. This service facilitated cross-border payments in 35 currencies for corporate clients, leveraging a secure online platform to reduce transaction costs and mitigate currency risks. With personalized customer support, OANDA FX Payments seamlessly merges OANDA’s foreign exchange expertise with Currencycloud’s payment technology and Shift Connect’s customer service capabilities.
Exchange Rates API: Empowering Financial Professionals
In March 2028, OANDA enhanced its Exchange Rates API with real-time currency rates updated every five seconds, ensuring accurate market prices. The API also offers 96 daily fixing rates at 15-minute intervals, providing comprehensive data on bid, ask, and midpoint rates. Financial professionals can access daily and period average rates aligned with their time zone, enabling them to make informed decisions, mitigate risks, reduce currency exposure, and improve cash flow. Integration with various software systems is simplified through API documentation available on OANDA’s website.
About OANDA
OANDA is a leading provider of online trading services and currency data, serving both retail and corporate clients worldwide. The company offers a comprehensive range of trading instruments, including forex, commodities, indices, and cryptocurrencies. OANDA is committed to providing its clients with the tools, resources, and support they need to succeed in the global financial markets.
Credit and rights belong to MigBase.com