OANDA Crypto Receives Full FCA Approval as a UK Crypto Asset Firm

Coinpass, d.b.a OANDA Crypto is thrilled to announce its official registration as a crypto Asset firm with the UK Financial Conduct Authority (FCA) under Reference Number 921481.

Since its inception, the OANDA Crypto management team has firmly believed in the importance of adhering to regulations within the cryptocurrency ecosystem, particularly those areas that interface with traditional finance. Our vision has always been to enable seamless transactions between banking and crypto on a single digital platform, and this FCA registration signifies a significant step closer to achieving that vision.

Jeff Hancock of OANDA Crypto expressed his satisfaction: "We are incredibly proud to be among the first UK-based cryptocurrency trading platforms for retail investors and businesses to achieve full registration as a crypto asset firm with the FCA. We wholeheartedly support the implementation of regulatory guidelines for exchanges and gateways, recognizing this as a vital step towards fostering a more inclusive and accessible cryptocurrency market. The UK, with its established financial hub and strong fintech presence, has the potential to become a global leader in cryptocurrency regulation under the FCA's guidance. This registration fills me with immense optimism for the future of crypto in the United Kingdom, and we are immensely proud of this accomplishment."

Previously, UK investors and traders participating in the cryptocurrency market through offshore, unregistered exchanges faced significant risks, including exposure to money laundering, potential loss of funds, and inadequate customer service. Additionally, many UK banks have restricted cryptocurrency transactions originating from client accounts, citing concerns over jurisdictional issues with certain exchanges or the source of funds associated with crypto asset liquidations.

The introduction of mandatory registration for UK crypto asset firms, coupled with adherence to Anti-Money Laundering (AML) guidelines, regulations, and policies for crypto asset offerings, will undoubtedly strengthen and improve the UK cryptocurrency ecosystem for investors.

Coinpass Limited is a UK-based cryptocurrency exchange officially registered with the FCA as a crypto asset firm. We offer investors in the UK a user-friendly platform to buy, sell, trade, and hold various cryptocurrencies, including Bitcoin and Ethereum.

Coinpass Limited was founded in 2018 to bridge the gap between traditional finance and the transition to digital finance and cryptocurrency. OANDA acquired Coinpass Limited in August 2023, rebranding to OANDA Crypto.

OANDA acquired Coinpass Limited because of the enormous potential of cryptocurrencies and digital assets, and the pressing need for responsible and regulated trading practices.

From the outset, OANDA Crypto prioritized compliance and user protection. This commitment is evident in our early advocacy for clear regulations within the UK's cryptocurrency ecosystem. We believed that establishing a framework for responsible trading would ultimately benefit both investors and the industry as a whole. In 2023, this dedication to responsible trading culminated in a landmark achievement: OANDA Crypto secured full registration as a crypto asset firm with the UK's Financial Conduct Authority. This registration solidified our position as a leader in FCA-compliant cryptocurrency trading platforms in the UK.

FCA registration for OANDA Crypto brings significant advantages for UK investors.

• Investor protection

FCA regulations ensure that OANDA Crypto operates with robust safeguards in place. These safeguards include measures to protect customer assets, mitigate market manipulation, and provide clear dispute resolution processes.

• Transparency and fairness

FCA registration promotes a transparent trading environment. Investors benefit from clear and accessible information about fees, trading rules, and potential risks associated with cryptocurrency investments.

• Increased confidence

Knowing that OANDA Crypto is a registered and regulated platform can give UK investors greater confidence and peace of mind when participating in the cryptocurrency market that they are investing with a highly reputable cryptocurrency exchange that complies with all financial regulations to the letter of the law.

OANDA Crypto offers a comprehensive suite of services designed to cater to the needs of both retail and business investors in the UK.

Supported cryptocurrencies

OANDA Crypto allows users to buy, sell, trade, and hold a variety of popular cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and others. The platform is constantly evaluating the addition of new and promising crypto assets.

Trading features

OANDA Crypto provides a user-friendly trading platform that caters to different experience levels. Investors can utilize market orders, limit orders, and stop-loss orders to manage their crypto portfolios effectively.

Security measures

OANDA Crypto prioritizes user safety. They employ industry-leading security measures such as multi-factor authentication, cold storage for the majority of user assets, and regular security audits to safeguard user funds and protect against cyberattacks.

Customer support

OANDA Crypto offers dedicated customer support to assist users with any questions or concerns they might have. Support options include email, phone, and live chat, ensuring users have access to help whenever needed.

The future of cryptocurrency in the UK is bright. The FCA's growing focus on regulation, coupled with the presence of established and reputable platforms like OANDA Crypto, illustrate that a more mature and secure trading environment is emerging.

OANDA Crypto is well-positioned to play a leading role in shaping the future of cryptocurrency in the UK. Our commitment to responsible trading, combined with their FCA registration and comprehensive platform features, positions us as a trusted partner for UK investors seeking to navigate the exciting world of cryptocurrencies.

By fostering a safe and secure trading environment, OANDA Crypto can contribute to the broader mainstream adoption of cryptocurrencies in the UK. This, in turn, can fuel further innovation and growth within the crypto ecosystem, benefiting both investors and the UK's financial landscape as a whole.

Disclaimer

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Footnotes

¹https://register.fca.org.uk/s/firm?id=0014G00002Tq8OLQAZ