Oanda Unveils Cryptocurrency Trading in the US

Oanda Unveils Cryptocurrency Trading in the US
  • Oanda’s partner Paxos tokenizes, trades, and settles assets.
  • A new crypto exchange for institutional investors was also established by former forex traders from Jeffries Financial Group.

Oanda, a multi-asset trading company based in New York, has introduced a new cryptocurrency trading service in the country. This most recent improvement, created in collaboration with regulated blockchain infrastructure provider Paxos Trust Company, aims to provide investors with simple access to cryptocurrency alongside their current forex portfolios in a safe setting. 

With the new service, investors in the US can spot-trade cryptocurrencies on Paxos’s itBit exchange using the OANDA mobile app. Investors can easily access popular cryptocurrencies like Bitcoin, Ethereum, and PAX Gold against the US dollar from a user-friendly platform because everything related to opening a Paxos account, funding it, and managing trades are handled within the app. 

Assets Are Tokenized, Traded, and Settled by Paxos

Oanda’s partner Paxos tokenizes, trades, and settles assets. Paxos is a licensed blockchain infrastructure provider. PayPal, Interactive Brokers, Meta, Mastercard, MercadoLibre, Nubank, Bank of America, Credit Suisse, and Societe Generale are just a few of the businesses in which Paxos develops enterprise blockchain solutions. Oanda’s CEO, Gavin Bambury, claimed that the alliance with Paxos provides his company with a regulated partner with which to expand its cryptocurrency offerings.

Oanda was established in 1996, and five years after its founding, it launched a forex trading platform that contributed to the advancement of web-based currency trading. The company claims to be the first to share exchange rate data freely online. Platforms that previously only offered trading in traditional assets like stocks and bonds have recently expanded their services to include cryptocurrency. New cryptocurrency exchange for institutional investors was also launched by former Jeffries Financial Group forex brokers.

Journalism graduate who loves to write and Karate. And I love exploring new concepts and that brought me into the fascinating crypto and blockchain technology…