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OANDA Gains Foothold for Crypto Trading Services in the UK: A Strategic Expansion

ByDayne Lee

Feb 27, 2024

In a notable expansion move, OANDA, a leading US-based crypto brokerage firm, has paved its way into the United Kingdom’s crypto trading sphere through its subsidiary, OANDA Crypto. This development follows OANDA’s strategic acquisition of a majority stake in the Financial Conduct Authority (FCA)-registered Coinpass last year, setting the stage for its latest venture. OANDA Crypto emerges as a pivotal addition to the firm’s expanding global footprint, heralding a new chapter in its commitment to offering robust crypto trading solutions.

Diverse Crypto Trading Portfolio

OANDA Crypto is set to revolutionize the crypto trading experience in the UK by offering an extensive portfolio of over 63 cryptocurrency pairs. This includes heavyweight cryptocurrencies such as Bitcoin and Ether, among others, with a forward-looking plan to incorporate additional tokens and innovative features in the foreseeable future.

OANDA’s Strategic Global Expansion

OANDA’s foray into the UK crypto market is part of a broader strategic expansion plan. Previously, the firm established its presence in the US crypto trading market through a collaboration with Paxos, marking its initial steps into cryptocurrency services. Furthermore, OANDA has recently relocated its European operations from Malta to Warsaw, Poland, by acquiring the Polish broker Dom Maklerski TMS Brokers SA, which underwent a rebranding to OANDA TMS. This move underscores OANDA’s strategic approach to selecting regions with stringent regulatory frameworks, aiming to ensure a secure and compliant trading environment for its clients.

Navigating the UK’s Regulatory Landscape

The UK’s crypto market has witnessed significant shifts, particularly with the FCA’s introduction of new regulatory guidelines on crypto advertising in October 2023. These regulations have led to notable market players, such as Bybit and Revolut, temporarily halting their services in the UK. The FCA’s stringent advertising rules now permit only registered virtual asset service providers to promote their activities within the country. Additionally, these rules mandate substantial modifications to crypto firms’ online platforms, emphasizing the need to adequately inform potential customers about investment risks.

The FCA’s scrutiny revealed a “significant levels of non-compliance” among crypto firms, resulting in the issuance of 450 consumer alerts against virtual asset companies for illegal promotion activities between October 8 and December 31, 2023. This regulatory tightening reflects the UK’s commitment to creating a safer and more transparent crypto trading environment.

OANDA’s Optimistic Outlook on the UK Market

Despite the regulatory challenges, OANDA’s head of digital assets, Lucian Lauerman, views the UK market as highly educated and active, aligning well with the markets where OANDA has traditionally excelled. Lauerman appreciates the UK’s elevated regulatory standards, indicating a positive stride towards a more regulated and secure crypto trading landscape. This strategic alignment with stringent regulatory environments underscores OANDA’s commitment to providing a compliant and secure trading platform for its clients.

OANDA’s entry into the UK crypto trading market signifies a strategic expansion move, aligning with its global growth ambitions and commitment to regulatory compliance. By offering a diverse trading portfolio and navigating the UK’s regulatory landscape effectively, OANDA is poised to make a significant impact on the UK’s crypto trading scene. As the firm continues to evolve and adapt to the dynamic global crypto market, its strategic decisions and regulatory compliance efforts are set to pave the way for a secure and prosperous trading environment for its clients.


Featured image credit: Timon via Adobe Stock

Dayne Lee

With a foundation in financial day trading, I transitioned to my current role as an editor, where I prioritize accuracy and reader engagement in our content. I excel in collaborating with writers to ensure top-quality news coverage. This shift from finance to journalism has been both challenging and rewarding, driving my commitment to editorial excellence.