OANDA Launches Crypto New Offering in the US

Published on: 21.10.2022
OANDA Crypto New Offering in the US

OANDA, a global leader in online multi-asset trading services, currency data and analytics, launches a new cryptocurrency trading offering in the US market.

OANDA crypto new offering in the US is developed to provide investors with secure access to crypto alongside their existing FX holdings. The trading environment was created in collaboration with the Paxos Trust Company, a regulated blockchain infrastructure platform.

Crypto New Offering

Through the OANDA mobile app, US-based investors may spot trade cryptocurrencies on Paxos’ itBit exchange. Everything from registering a Paxos account to funding and trading is controlled within the app. Allowing investors to access key cryptocurrencies such as Bitcoin, Ethereum, and PAX Gold against the US dollar from a simple interface.

The debut of this product, which coincides with the presentation of OANDA’s new corporate identity. Shows the company’s commitment on facilitating smarter trading for its clients.

The benefits of trading cryptocurrencies through OANDA are:

  • Peace of Mind – OANDA has years of experience and an unparalleled record in offering trading in forex and other derivative instruments around the world. OANDA’s crypto partner, Paxos, is the leading regulated blockchain infrastructure provider.
  • Ease of Use – Investors can enjoy the convenience of opening an account with Paxos. Placing trades in one user-friendly app displaying two-way streaming prices. Plus, the offering features easy, low-cost account funding and withdrawal.
  • Risk Management – The functionality provided by the OANDA app goes beyond the basic ‘buy & sell,’ as investors can set up limit and stop order parameters in their accounts and take profits and stop losses on positions.

Management Quote

Gavin Bambury, Chief Executive Officer of OANDA, says, “This launch signals the start of an exciting new phase of growth for OANDA, creating significant opportunity in the US market. As the number of Americans seeking exposure to cryptocurrencies grows. It’s becoming clear that digital assets should form part of a unified trading experience for active traders and sophisticated investors.

“Our partnership with Paxos continues that growth trajectory as its regulated blockchain infrastructure allows us to provide our clients access to crypto trading so they have a fast and secure route to the digital economy.”

“The evolution of institutional investment into cryptos and blockchain technologies has led to a stabilization period that has major players such as Schwab, Citadel, and Fidelity forge ahead with new digital asset offerings in the cryptoverse.” said Ed Moya, Senior Market Analyst at OANDA.

With institutional investors slowly but surely increasing their adoption of crypto. The landscape is likely to change again and more retail traders may return to the crypto ecosystem. Jessica Beckstead, Managing Director, North America and US CEO added: “The decision to add crypto access to OANDA’s popular forex trading platform was made in response to the needs of active traders—giving them the ability to trade according to their personal style is key.”

Walter Hessert, Head of Strategy of Paxos, added, “OANDA pioneered internet FX trading, making their entrance into digital asset markets a natural extension of their product. By partnering, OANDA and Paxos will give sophisticated forex traders easy, secure access to the Web3 ecosystem. We’re proud to power OANDA’s crypto offering with our regulated blockchain infrastructure.”

About Paxos

Paxos is the leading regulated blockchain infrastructure platform. Its products are the foundation for a new, open financial system that can operate faster and more efficiently. With offices in New York, London and Singapore, Paxos takes a global approach to modernizing the financial system.

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About OANDA

OANDA was the first company to share exchange rate data free of charge on the Internet. The company helped pioneer the development of web-based currency trading five years later. OANDA’s new look and feel represents the company’s commitment to always putting its clients first.

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SOURCE

https://www.prnewswire.com/news-releases/oanda-launches-crypto-trading-service-in-the-us-301654737.html

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