OANDA Global Corporation announced that it has acquired a majority interest in Coinpass Limited, a crypto asset firm registered with the United Kingdom’s Financial Conduct Authority (FCA).
Coinpass was founded in 2018 in order “to meet a growing demand for fast and secure access to digital assets in the UK and has quickly become a platform of choice for UK-based traders and investors.”
Coinpass enables retail investors, professional traders and businesses “to invest and trade in cryptocurrencies, providing access to a variety of products including a range of fiat/crypto, crypto/crypto, and stablecoin pairs through proprietary trading technology solutions.”
This acquisition will aim to “complement OANDA’s existing strengths in offering a wide range of CFD instruments, including on indices, forex, commodities, metals and bonds, on an award-winning trading platform.”
Through Coinpass, one of the few crypto exchanges “registered with the FCA, OANDA will be able to invest in and grow a cryptocurrency trading offering in the UK market, providing retail traders and investors with a regulated route to the digital economy.”
Coinpass will continue “to service corporate clients, while also expanding its B2B2C capabilities to enable other firms to enter the UK crypto market.”
Crypto ownership more than doubled in the UK last year, the FCA “revealed in June 2023 following a consumer survey.”
Gavin Bambury, Chief Executive Officer of OANDA, said:
“By adding Coinpass’ regulated crypto trading proposition to OANDA’s existing multi-assets offering, we will significantly expand our footprint and widen our appeal to a growing base of retail investors in the UK.”
He added:
“The acquisition also signals the start of an exciting new phase of growth for OANDA, creating the opportunity for a truly global B2B reach. A crypto-native, Coinpass will provide OANDA with the technology backbone and trusted experience in the regulated crypto markets we need in order to offer clients globally a fast and secure route to the digital economy.”
Jeff Hancock, Chief Executive Officer of coinpass.com, said:
“The acquisition of Coinpass by OANDA was born out of an alignment of vision and shared values for offering top-quality trading products to UK users. OANDA’s market experience in trading as well as their extensive product offering made working with them as a long-term equity investor vital to Coinpass’s continued growth.”
Founded in 1996, OANDA claims that it is “one of the world’s leading online trading groups, offering multi-asset trading, currency data, and analytics to retail and corporate clients around the globe.”
From its roots providing free exchange rate data on the Internet to launching a forex trading platform that helped pioneer web-based currency trading, OANDA remains “dedicated to building smarter trading experiences.”
With regulated entities in many of the world’s most active financial markets, including New York, Toronto, London, Warsaw, Singapore, Tokyo and Sydney, OANDA enables retail clients to trade in “a variety of asset classes on an award-winning trading platform.”
Depending on geographical location, these may “include derivatives of global market indices, equities, commodities, treasuries, precious metals, forex, and cryptocurrencies.”
Coinpass was founded in 2018 “to solve the demand for fast, reliable, professional, and high-quality financial services products for bitcoin and crypto trading in the United Kingdom.”
Coinpass mission is to “deliver a crypto trading and investment experience that is fast, secure, and easy to use.”
