OANDA expanded its crypto trading services to the United Kingdom

United States-based firm OANDA has expanded its crypto trading services to the UK

OANDA, a prominent crypto brokerage firm based in the United States, has unveiled its venture into the United Kingdom market by introducing its crypto trading services through its subsidiary, OANDA Crypto. This strategic maneuver comes on the heels of OANDA's acquisition of a majority stake in Coinpass, an FCA-registered entity, leading to the establishment of the crypto subsidiary last year. The newly launched crypto trading platform will provide a diverse array of trading services encompassing over 63 cryptocurrency pairs, including popular choices like Bitcoin and Ethereum. With ongoing plans for improvement and the incorporation of additional tokens and features in the pipeline, OANDA aims to deliver a comprehensive and competitive offering to UK-based crypto traders.

This foray into the UK market follows OANDA's successful initiation of crypto trading services in the United States over a year ago, in collaboration with Paxos, a reputable crypto trading platform. OANDA's decision to penetrate the UK market aligns with its strategy of targeting regions characterized by robust regulatory frameworks, emphasizing consumer protection and compliance. The timing of OANDA's expansion into the UK market holds significance in light of regulatory developments within the country. Since October 2023, several leading crypto companies have halted their services in the UK following the introduction of new regulatory guidelines by the FCA concerning crypto advertising.