OANDA Buys Majority Of Coinpass Shares To Promote UK Market
- OANDA buys into the UK’s Coinpass, merging financial services with a renowned crypto platform.
- The acquisition allows the company to tap into the booming UK crypto market under regulatory compliance.
- OANDA leverages the Coinpass partnership for regulated access to the growing UK crypto market.
OANDA Global Corporation has recently made a significant move by acquiring a majority stake in Coinpass Limited, a UK-based crypto asset company regulated by the Financial Conduct Authority (FCA). The strategic partnership will fuse the company’s multi-asset financial services with Coinpass’ cryptocurrency trading platform.
The acquisition solidifies OANDA’s standing as a versatile provider of diverse financial instruments, including contracts for difference (CFDs) spanning indices, forex, commodities, metals, and bonds.
Coinpass’ FCA registration empowers OANDA to explore the burgeoning UK cryptocurrency market in a regulated manner, offering retail traders and investors a legitimate pathway to the digital economy.
With the acquisition, Coinpass will continue its services for corporate clients while also broadening its B2B2C capabilities, facilitating other companies’ entry into the UK’s cryptocurrency landscape.
This venture comes at a pivotal time, as recent data from the FCA reveals that crypto ownership in the UK surged twofold in the past year, as per a June 2023 consumer survey.
The collaboration aims to leverage the company’s robust trading platform and Coinpass’ FCA-approved exchange to seize opportunities in this growing market.
Its history with cryptocurrencies dates back to 2022, when it partnered with regulated blockchain infrastructure company Paxos to introduce digital asset trading options for its US customers.
Now, with the Coinpass acquisition, OANDA takes another stride into the world of digital assets, poised to enhance its foothold in the dynamic cryptocurrency domain while adhering to regulatory standards.
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