OANDA Launches Crypto Trading Service in the US Following Rebranding

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 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.

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."