In short:
New York-based forex broker Oanda launches crypto trading services in US.
Customers to trade crypto alongside forex portfolios from the OANDA mobile app.
The broker’s partnership with Paxos will enable US-based investors to spot trade cryptocurrencies on Paxos’ itBit exchange through Oanda’s mobile platform.
New York-based multi-asset trading services Oanda has launched a new cryptocurrency trading service in the United States. This latest addition, developed in partnership with regulated blockchain infrastructure provider Paxos Trust Company, is designed to provide investors with easy access to crypto alongside their existing forex portfolios in a secure environment. .
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The collaboration will enable US-based investors to spot trade cryptocurrencies on Paxos’ itBit exchange through Oanda’s mobile platform, the broker said. Investors will be able to open and fund trading accounts as well as gain access to major cryptocurrencies such as Bitcoin.
BTC.
According to Oanda, customers will benefit from the company’s long track record in the forex and derivatives markets.
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Oanda’s partner Paxos is a regulated blockchain infrastructure provider that uses technology to tokenize, trade and settle assets. Paxos builds enterprise blockchain solutions for companies like PayPal, Interactive Brokers, Meta, Mastercard, MercadoLibre, Nubank, Bank of America, Credit Suisse and Societe Generale.
Gavin Bambury, thechief executive officer of Oanda,said the partnership with Paxos gives his firm a regulated partner in which to grow its crypto offerings.
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Oanda executive Jessica Bestead said the decision to offer crypto trading services was “in response to the needs of active traders,” a sign that more market participants were looking to gain exposure to digital assets.
OANDA, a longtime player in the multi-asset retail trading industry, has added crypto trading ability to its platform for users in the United States.Take Advantage of the Biggest Financial Event in London. This year we have expanded to new verticals in Online Trading, Fintech, Digital Assets, Blockchain, and Payments.
The new feature means that users in the United States can now trade spot crypto on Paxos’itBit exchange from the OANDA mobile app, the broker said.
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“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,” explained Jessica Beckstead, the CEO of OANDA for North America.
The launch comes almost one month after the broker, which is based in Canada, announced its partnership with Paxos to develop a crypto trading ecosystem.
OANDA said it had added a crypto trading feature to its platform “to give investors easy access to crypto alongside their existing forex portfolios in a secure environment.”
OANDA, a global leader in online multi-asset trading services, currency data and analytics, today announced the launch of a new cryptocurrency trading offering in the US market, designed to give investors easy access to crypto alongside their existing forex portfolios in a secure environment. The trading ecosystem has been developed in partnership with Paxos Trust Company, a regulated blockchain infrastructure platform.
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The new offering allows US-based investors to spot trade cryptocurrencies on Paxos’s itBit exchange through the OANDA mobile platform. Everything from Paxos account opening to funding to trading is managed within the app so investors can seamlessly access major cryptocurrencies such as Bitcoin, Ethereum and PAX Gold against the US dollar from an intuitive platform.
Together with the unveiling of OANDA’s new brand identity, which reflects the company’s emphasis on enabling smarter trading for its clients, the launch of this offering is an opportunity for investors to gain cryptocurrency exposure in a smart way with a trusted brand.
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 and 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.
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.
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“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.”
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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.”
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