OANDA Partners With Coinpass Limited To Enhance Crypto Trading In The UK

In a significant move to enhance its presence in the cryptocurrency sector, North American-based retail FX and CFDs broker, OANDA, has secured a majority stake in Coinpass Limited. The Financial Conduct Authority (FCA) has formally recognized and registered this UK-based crypto asset enterprise.

Coinpass, founded in 2018, has been at the forefront of addressing the growing need in the UK for trustworthy and quick access to digital currencies. It caters to a diverse clientele – from individual investors and seasoned traders to businesses. Its advanced trading technology solutions offer an array of products such as fiat/crypto, crypto/crypto, and stablecoin pairs.

OANDA is renowned for its broad spectrum of CFD instruments, encompassing indices, forex, commodities, metals, and bonds, facilitated through its award-winning platform. Coinpass's affiliation with the FCA as one of the select crypto exchanges provides OANDA with a strategic avenue to introduce and augment its cryptocurrency trading services in the UK.

In recent times, cryptocurrency ownership in the UK has seen a substantial uptick, with numbers doubling last year, as highlighted by a consumer survey disclosed by the FCA in June 2023.

OANDA's CEO, Gavin Bambury, expressed enthusiasm about this collaboration, emphasizing the value Coinpass brings to OANDA's multi-asset offering. He stated that this integration indicates the beginning of a promising growth trajectory for OANDA, paving the way for a comprehensive global B2B reach. Bambury added, “Coinpass's expertise in regulated crypto markets and its robust technology framework equips OANDA to provide our clients a seamless and secure entry into the digital realm.”

Coinpass.com's CEO, Jeff Hancock, mirrored this sentiment, pointing out the alignment in vision and shared commitment to deliver superior trading products to UK consumers. Hancock acknowledged OANDA's vast trading experience and diverse product portfolio, underscoring the importance of this partnership for Coinpass's sustained growth.

It's noteworthy that OANDA operates under the aegis of the private equity investment entity, CVC Capital Partners.

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