OANDA registers crypto trading platform with UK authorities
OANDA, a US-based forex company, has registered its crypto trading platform, OANDA Crypto, with UK authorities. The platform will offer trading services for 63 cryptocurrencies, including Bitcoin, Ethereum, and Ripple. This move reflects the trend of traditional financial companies entering the crypto market. OANDA already offers cryptocurrency-related services in the US, but is now expanding into the UK and European markets. The FCA's approval of OANDA's registration indicates that the cryptocurrency market is becoming more closely regulated. The cryptocurrency market has grown and evolved over the years, with many industries accepting it as a payment method. Traditional trading and finance companies are also increasingly embracing crypto. The introduction of ETFs has been a significant milestone in changing attitudes towards crypto, allowing traditional investors to diversify without dealing with its volatility directly. While some users may disapprove of increased regulations, others welcome them as a sign of stability and security, making cryptos a viable long-term investment. OANDA's creation of a UK-based crypto trading platform reflects this trend, and more similar companies are expected to follow suit.