• OANDA, a global brokerage firm, has opened its crypto trading platform in the UK.
  • OANDA Crypto is based in London, and has been registered with the FCA thanks to Coinpass’ acquisition last year.

OANDA, a U.S. forex pioneer, is opening an OANDA Crypto trading platform for the UK. The platform, which will be based in London, has been registered with the Financial Conduct Authority, the UK’s national regulator.

The company announced that it is the culmination of its acquisition of a major stake in the FCA-registered cryptocurrency firm Coinpass last year. It will now offer trading for over 63 cryptocurrency pairings, including Bitcoins, Ethers, and Ripples, and plans to add new tokens and features throughout the year.

Lucian Lauerman, the head of OANDA’s digital assets, explained that while some crypto-focused firms tend to avoid places such as the U.S. or other heavily regulated jurisdictions like Canada, they found this attractive.

Lauerman stated in an interview that “the UK has a strong level of participation, and it is a market with a lot of education and activity.” What we liked most about the UK opportunity, in terms of crypto, was that it is becoming more aligned to the markets where we have traditionally operated. The regulatory bar is slightly higher.”

OANDA offers crypto already in the U.S. through a partnership with Paxos, which is regulated by New York State Department of Financial Services. With the acquisition of Dom Maklerski TMS Brokers SA in Poland and rebranding it to OANDA TMS, OANDA refocused their mainland Europe operations from Malta to Warsaw, Poland.

Stephen Alpher edited the book.