OANDA, a longtime player in the multi-asset retail trading industry, has added crypto trading ability to its platform for users in the United States.
The crypto trading offering was launched in partnership with Paxos, a regulated blockchain infrastructure company, the broker announced on Friday.
The new feature means that users in the United States can now trade spot crypto on Paxos’itBit exchange from the OANDA mobile app, the broker said.
“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,” explained Jessica Beckstead, the CEO of OANDA for North America.
The launch comes almost one month after the broker, which is based in Canada, announced its partnership with Paxos to develop a crypto trading ecosystem.
OANDA said it had added a crypto trading feature to its platform “to give investors easy access to crypto alongside their existing forex portfolios in a secure environment.”
“Everything from Paxos account opening to funding to trading is managed within the app so investors can seamlessly access major cryptocurrencies such as Bitcoin, Ethereum and PAX Gold against the US dollar from an intuitive platform,” the broker explained.
Rebranding
OANDA said it is unveiling a new brand identity this week. However, the broker's new logo is already on display on its website.
OANDA, which also offers currency data and analytics services, added that the move proves its commitment to facilitate smarter trading for its customers.
“OANDA’s new look and feel represents the company’s commitment to always putting its clients first,” the broker said.
It added, “The core focus of OANDA’s brand evolution is to empower traders with the right tools so they can trade smarter.”
A New Phase of Growth
Speaking on the launch, Gavin Bambury, the CEO of OANDA, noted that the number of Americans in search of exposure to cryptocurrencies continues to increase.
Hence, the need to create “a unified trading experience” for active traders and sophisticated investors through the inclusion of digital assets in their portfolios.
“Our partnership with Paxos continues that growth trajectory as its regulated blockchain infrastructure allows us to provide our clients [with] access to crypto trading, so they have a fast and secure route to the digital economy,” Bambury added.
