OANDA Announces Acquisition of coinpass, Taps into Crypto World

OANDA, a global leader in online multi-asset trading services, currency data, corporate payments and Forex services, announced today the acquisition of a majority interest in the UK-based cryptocurrency exchange platform Coinpass Limited.

According to the official press release, this acquisition will allow OANDA to invest in and scale up a cryptocurrency trading offering in the UK market, offering retail traders and investors a regulated route to the digital economy. 

Besides, Coinpass will continue to service corporate clients, while also expanding its B2B2C capabilities to enable other firms to tap into the UK crypto market.

"By adding Coinpass' regulated crypto trading proposition to OANDA's existing multi-assets offering, we will significantly expand our footprint and widen our appeal to a growing base of retail investors in the UK," said Gavin Bambury, Chief Executive Officer of OANDA.

"The acquisition also signals the start of an exciting new phase of growth for OANDA, creating the opportunity for a truly global B2B reach. A crypto-native, Coinpass will provide OANDA with the technology backbone and trusted experience in the regulated crypto markets we need in order to offer clients globally a fast and secure route to the digital economy," added Gavin Bambury.

"The acquisition of Coinpass by OANDA was born out of an alignment of vision and shared values for offering top-quality trading products to UK users. OANDA’s market experience in trading as well as their extensive product offering made working with them as a long-term equity investor vital to Coinpass's continued growth," said Jeff Hancock, Chief Executive Officer of Coinpass.