OANDA Taps Standard Chartered as Its FX Prime Broker for Retail FX Business Internationally

OANDA, a global leader in online multi-asset trading services, currency data and analytics, reportedly appointed Standard Chartered Bank as its cash management bank for payments and collections in the U.S. and UK. Furthermore, its also mandated the bank to be foreign exchange prime broker for its retail FX business internationally.

With this mandate, OANDA will be able to manage its payments and collections processes across various geographies through streamlined cloud-based processing services by leveraging Straight2Bank, Standard Chartered's online banking platform for corporate and institutional clients.

This cooperation is a further extension of their existing relationship in the Singapore market.

Gavin Bambury, CEO of OANDA, said: "Standard Chartered's ability to offer a one stop Cloud-based solution that encompasses foreign exchange, prime brokerage, payments, collections, and FX hedging is aligned with our mission to efficiently support our retail and corporate clients across the globe. We look forward to the continued partnership and the opportunity to bank with them across different markets."

Karen Hom, Managing Director of Transaction Banking at Standard Chartered Americas, said: "This mandate is a wonderful demonstration of our ability to offer international clients with localized and regional solutions that support their growth ambitions. As treasury teams seek flexible and seamless processing experiences, Cloud-based payment solutions will offer forward looking companies like OANDA – the opportunity to scale and grow efficiently."

In addition, the forex corporation has further expanded its digital asset business. Last October, OANDA launched 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.