OANDA, a New York-based global leader in FX solutions, launched a new “cryptocurrency trading offering” in the US market that aims to provide customers with secure access to cryptocurrencies together with their current FX portfolios, according to the press release published by Cision PRNewswire on October 20th.
In the press release, the company claims that it partnered up with Paxos Trust Company, a financial institution, and technology company specializing in blockchain, in order to develop the trading ecosystem.
However, this new service will enable traders in the US to spot-trade cryptocurrency on Paxos’s itBit Exchange through OANDA’s mobile app. In addition, everything related to creating a Paxos account, financing it, and managing trades are made right through the user-friendly interface of the OANDA app.
Moreover, in launching this offering and introducing a new logo that clearly conveys the company’s priority on providing its customers with “smarter trading” responsibly, it has given investors who want to increase their holdings an opportunity to do so through an established financial institution.
The company said in the press release:
The launch of this offering is an opportunity for investors to gain cryptocurrency exposure in a smart way with a trusted brand.
Trading Cryptocurrencies Via OANDA
The press release also highlighted the advantages of trading cryptocurrencies with OANDA, including peace of mind, ease of use, and risk management.
Senior Market Analyst at OANDA, Ed Moya, said:
The evolution of institutional investment into cryptos and blockchain technologies has led to a stabilization period that has major players such as Schwab, Citadel, and Fidelity forge ahead with new digital asset offerings in the crypto verse.
According to Jessica Beckstead, Managing Director, North America, and US CEO, Institutional investors are steadily beginning to adopt cryptos – which is starting to impact the market.
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She argues that adding crypto access to OANDA’s popular forex trading platform shows an understanding of what traders need- giving them control over how they want to trade cryptocurrencies is crucial for future success.
Furthermore, as per the press release, Paxos is proud to partner with the leading provider of online foreign exchange (FX) trading services, OANDA, says Walter Hessert, head of the strategy at Paxos. He added,
By partnering, OANDA and Paxos will give sophisticated forex traders easy, secure access to the Web3 ecosystem.