OANDA Plans to Launch Cryptocurrency Trading Platform OANDA Crypto in the UK

Industry-leading financial brokerage firm OANDA is planning to launch cryptocurrency trading platform OANDA Crypto in the U.K. The platform will reportedly operate under the supervision of the U.K.'s financial regulator, the FCA.

Last year, OANDA acquired a majority stake in crypto firm Coinpass. The digital currency trading platform, which was founded in 2012, has registered with the UK regulator FCA to offer a wide range of cryptocurrency pairs trading services to its clients, with plans to launch more options within the year.

Lucian Lauerman, head of digital assets at OANDA, said that while many cryptocurrency firms tend to stay away from heavily regulated areas, this was a feature that attracted OANDA. "The UK has a high level of participation and is a very well educated and active market,” Lauerman said in an interview. “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."

OANDA is a leading firm in currency trading, providing a forex trading platform for institutional and retail investors under the supervision of several financial regulators. In addition to the UK, OANDA offers cryptocurrency services to US clients through Paxos, which is regulated by New York State Department of Financial Services. The company has also shifted the focus of its European operations to Warsaw, Poland, through the acquisition of a Polish broker, offering related services through OANDA TMS.