Key Insights
- OANDA launched new UK crypto trading platform OANDA Crypto after acquiring Coinpass
- Seeking to tap growth in sophisticated UK crypto market with 63+ token pairs now offered
- Platform launch follows OANDA’s crypto expansion to US; relocated EU operations to Poland
LONDON (MarketsXplora) – U.S. online broker OANDA has launched a new cryptocurrency trading platform in Britain, seeking to tap growth in the UK market where participation and regulatory standards align with its traditional forex operations.
Called OANDA Crypto, the platform offers trading in over 60 digital token pairs including bitcoin, ether and ripple and is registered with Britain’s Financial Conduct Authority (FCA).
The launch follows OANDA’s purchase last year of a majority stake in UK-based crypto firm Coinpass and marks the broker’s first crypto foray outside of the United States.
OANDA plans to add more coins and features to the platform over 2024 to meet evolving trader demands, said Lucian Lauerman, head of digital assets.
“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,” Lauerman said in an interview.
The company also expanded in mainland Europe, relocating from Malta to set up an operation in Poland after buying local broker Dom Maklerski TMS Brokers SA, rebranding it as OANDA TMS.
The strategic shifts highlight OANDA’s focus on offering crypto access to sophisticated traders in regulated markets, in contrast with regions where participation remains more retail-focused.