OANDA Doubles Down on Crypto: Launches UK Trading Under Regulated Arm

Veteran forex brokerage OANDA is amplifying its crypto market foray, opening a cryptocurrency trading platform tailored for UK customers through newly established subsidiary OANDA Crypto.

Registered with the country’s Financial Conduct Authority (FCA), the new offering provides retail and institutional traders streamlined access to an array of digital asset investing and trading services.

TLDR

• OANDA launches UK crypto trading under FCA-registered subsidiary OANDA Crypto after acquiring Coinpass
• New platform offers 63+ crypto pairs including BTC and ETH, with plans to expand offerings over time
• OANDA chose strict UK regulatory environment despite other crypto firms suspending services there
• Follows the firm’s prior move into US crypto trading via Paxos partnership last year
• OANDA head cites strong UK participation and alignment with their traditional forex markets as rationale

The launch follows OANDA’s strategic majority stake acquisition of FCA-approved crypto company Coinpass last year, integrating the firm’s technological infrastructure and regulatory foundations. The end result is a unified crypto trading experience bridging OANDA’s decades of market expertise with Coinpass’ specialized digital asset product suite.

From the outset, OANDA Crypto supports trading in over 63 cryptocurrency pairs, including headline assets like Bitcoin, Ethereum and XRP. The selected roster of tokens encompasses the spectrum from majors to altcoins across both centralized and decentralized exchange ecosystems. OANDA plans to widen its listings over time as adoption accelerates.

The company is also harnessing Coinpass’ links to the traditional banking apparatus to enable seamless deposits and withdrawals between UK bank accounts and crypto wallets. These fiat gateways are critical for capturing mainstream audiences that rely overwhelmingly on legacy payment rails.

Beyond asset breadth and banking integration, the platform offers sophisticated trading tools for seasoned investors, like dynamic charting and indicators powered by analysis leader TradingView. The experience simultaneously retains simplicity and ease-of-use for rookie adopters through educational resources and intuitive UX design.

OANDA’s calculated targeting of regulated jurisdictions for crypto expansion aligns with the company’s heritage in regulated forex and CFD markets like equities trading. While the light-touch environments favored by many crypto native firms may permit faster launches, OANDA feels the strict standards imposed by authorities like the FCA raise credibility and trust.

The FCA in particular has clamped down on crypto promotion and advertising through stricter guidelines enforced since late 2022. The measures sparked temporary shutdowns across swathes of the industry, with market leaders like Bybit and Revolut withdrawing operations citing regulatory uncertainty.

For OANDA however, the FCA’s proactiveness validates the UK as a sophisticated market with minimal “cowboy territory” among operators. OANDA’s head of digital assets notes British traders are savvy yet active in crypto, mirroring their traditional forex clientele. The familiarity makes expansion under existing regulation more attractive despite barriers to entry.

In a similar vein, OANDA migrated its mainland European arm from lightly-regulated Malta to more stringent Poland last year, inking a local acquisition deal reflecting preferences for trustworthy jurisdictions. With footholds now secured in the US, UK and EU, OANDA is fully committed to accelerating crypto adoption among the world’s most valuable financial trading blocs.