OANDA FX Broker Introduces A New Crypto Trading Service In The United States

The cryptocurrency trading capability was created in collaboration with Paxos.

Customers may use the OANDA mobile app to trade cryptocurrency alongside FX portfolios.

OANDA has long been in the retail multi-asset trading industry, and its platform now allows customers in the United States to trade cryptocurrencies.

Users in the United States may now trade spot crypto on Paxos' itBit exchange using the OANDA mobile app, according to the broker.

“The decision to add cryptocurrency access to OANDA's popular FX trading platform was made in response to the needs of active traders,” said Jessica Beckstead, OANDA's North American and US CEO. “Giving them the freedom to trade in their own way is very important.”

The launch comes almost a month after the Canadian broker said it was working with Paxos to make a trading environment for cryptocurrencies.

OANDA says that it added cryptocurrency trading to its platform “to make it easier for investors to add cryptocurrency to their existing FX portfolios in a safe environment.”

“Opening a Paxos account, financing it, and trading is all done inside the app,” the broker said, “so investors can utilize a simple platform to trade major cryptocurrencies like Bitcoin, Ethereum, and PAX Gold against the US dollar.”

What's new？

As part of its rebranding, OANDA said it would roll out a new brand identity this week. The broker's new logo, on the other hand, is already visible on its website.

OANDA, which also provides currency data and analytics, said that the move shows how serious it is about helping its clients trade better.

“OANDA's new look and feel highlight the company's commitment to always putting its customers first,” said the broker.

The company said, “The main goal of OANDA's brand transformation is to give traders the tools they need to trade smarter.”

The Expected Growth

Gavin Bambury, the CEO of OANDA, said at the launch that more and more Americans want to learn about cryptocurrency.

So, it's important to give aggressive traders and experienced investors a “unified trading experience” by adding digital assets to their portfolios.

“Our relationship with Paxos continues this growing trend because its regulated blockchain infrastructure lets us give our customers access to crypto trading so they can join the digital economy quickly and safely,” Bambury said.

About Paxos

Paxos Trust Company is a New York-based bank and technology firm that specializes in the blockchain. The company offers services to buy and sell cryptocurrencies, tokenize assets, and settle transactions. ItBit, which is run by Paxos, was the first bitcoin exchange to be approved by the New York State Department of Financial Services. This means that the business can now act as a custodian and exchange for US customers.

Paxos was started in New York City in 2012, and it now has offices in both London and Singapore. The startup has secured $540 million in investment as of April 2021.

About OANDA

OANDA is a registered market maker and trading firm. Online brokerage provides opportunities in well-known financial markets, such as FX. OANDA also offers leveraged trading with narrow spreads and no deposit required.

In this review for 2022, we look at OANDA's trading assets, methods for making deposits and withdrawals, demo accounts, and other features. Find out whether you should establish a real account right now.

The OANDA Group is comprised of many firms that are authorized to offer goods to clients all over the globe. The country where a customer lives determines which OANDA subsidiary they sign a contract with. Customers of OANDA will have different experiences depending on where they live because each subsidiary sells different things on different platforms. CFDs are not accessible to traders in the United States.

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