OANDA Expands into Cryptocurrency Trading with Launch of OANDA Crypto in the UK
Byline: Hannah Parker
Launching OANDA Crypto in the UK, well-known FX brokerage company OANDA Global Corporation has increased the scope of its financial offerings. With a user-friendly and secure trading environment, this new cryptocurrency trading platform is made to serve traders and individual investors. The UK Financial Conduct Authority has registered OANDA Crypto, which operates under OANDA Coinpass Limited. It facilitates trading in more than sixty-three cryptocurrency pairs, including well-known ones like Bitcoin, Ether, and Ripple. With the platform’s launch, OANDA is taking a big step towards meeting the increasing demand for digital asset trading by utilizing its knowledge of online trading, currency data, and analytics.
OANDA Crypto Platform Features
OANDA Crypto’s design aims to give users a smooth and safe trading experience. The platform enables traders to take advantage of market opportunities anytime by supporting trading in over 63 cryptocurrency pairs around the clock. The seamless transaction procedure is ensured for UK-based users by the ease with which they can fund their accounts and withdraw money straight to and from their UK bank accounts. The platform also provides good liquidity, which is essential for carrying out big trades with little to no price slippage.
OANDA Crypto offers secure storage options to guarantee the security of consumers’ cryptocurrency holdings. Advanced trading tools and features, such as an extensive range of cryptocurrencies, stablecoins, and powerful TradingView charting capabilities, are available on both the desktop platform and trading app. These features are made to accommodate both new and seasoned traders, giving them the resources they need to make wise trading choices.
Mission and Vision
OANDA’s Head of Digital Assets, Lucian Lauerman, highlighted the company’s goal of improving accessibility and intelligence in trading. The company wants to provide the cryptocurrency sector with the dependability, security, and ease of use of its robust trading platforms with the debut of OANDA Crypto.
Developers at Bitcoin Apex Official remark that the user-friendly app is made to attract traders and investors in the UK with varying degrees of experience in cryptocurrency trading. OANDA aims to empower more individuals to investigate this exciting market by demystifying the world of cryptocurrency trading and offering a user-friendly interface, cutting-edge trading tools, and a secure trading environment.
Background and Preparation for Launch
Following OANDA’s acquisition of Coinpass, an FCA-registered cryptocurrency exchange, last year, the launch of OANDA Crypto was a calculated strategic move. This acquisition gave OANDA the technology infrastructure and regulatory framework it needed to enter the cryptocurrency trading business, making it a crucial step.
One of the main areas of concentration in the run-up to OANDA Crypto’s launch has been integrating Coinpass’s technology with the company’s well-established trading platforms. The new platform is an addition to OANDA’s current offering, which consists of various CFD instruments such as bonds, indices, currency, commodities, and metals. With the addition of cryptocurrency trading, OANDA hopes to give its customers a more complete trading experience.
OANDA Crypto’s Offerings
OANDA Coinpass Limited, the company that runs OANDA Crypto, provides various trading products to meet the different demands of its users. The site offers access to multiple trading pairings, including fiat/crypto, crypto/crypto, and stablecoin pairs. Because of this variety, traders can experiment with various trading methods and market dynamics. The internal technological solutions of OANDA Crypto are made to guarantee a streamlined and effective trading process, along with quick execution times and dependable connectivity.
The platform is designed to satisfy the requirements of businesses, professional traders, and individual investors wishing to trade and invest in cryptocurrencies. Through providing a safe and intuitive platform, OANDA Crypto hopes to draw in many users and foster the expansion of the cryptocurrency trading community.
Potential Impact on the Crypto Industry
The UK debut of OANDA Crypto might significantly affect the cryptocurrency market in several ways.
- Enhanced Accessibility: OANDA Crypto can draw in a larger pool of investors and traders, including novices, to the cryptocurrency space by providing a user-friendly platform with simple funding and withdrawal options. An upsurge in cryptocurrencies’ acceptance and trading volumes may result from this enhanced accessibility.
- Enhanced Security and Trust: OANDA’s introduction into the Bitcoin market may increase investor trust because it is a reputable and regulated financial services firm. OANDA Crypto’s safe storage options and regulatory compliance can give customers peace of mind and entice more people to join the industry.
- Market Liquidity: OANDA’s standing and current clientele may contribute significantly to market liquidity in cryptocurrency, particularly for the 63 coin pairings available on the site. Increased liquidity can help the market by promoting better trade execution and more stable prices.
- Innovation and Competition: OANDA’s debut in cryptocurrency could encourage competition and innovation amongst already-established platforms and exchanges. This might result in the creation of fresh features, enhanced offerings, and more affordable prices, all of which would eventually help end users.
- Integration with Conventional Finance: OANDA’s experience in CFD and forex trading may make integrating cryptocurrencies with conventional financial markets easier. This combination may make more options for risk management and portfolio diversification available to institutional and retail investors.
- Impact on Regulation: OANDA’s adherence to legal requirements, like registering with the UK Financial Conduct Authority, may serve as a model for other cryptocurrency exchanges. This may encourage higher regulatory standards in the industry, leading to increased investor protection and market stability.
The introduction of OANDA Crypto may help the cryptocurrency market develop and flourish, becoming more widely available, safe, and integrated with conventional financial markets.
This article has been published in accordance with Socialnomics’ disclosure policy.
