Oanda, a New York-based online trading group, acquired majority interest in Coinpass, an Ashford, UK-based crypto asset firm.
The amount of the deal was not disclosed.
This acquisition will complement Oanda’s existing strengths in offering a wide range of CFD instruments, including on indices, forex, commodities, metals and bonds, on a trading platform. Through Coinpass, 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.
Led by CEO Jeff Hancock, Coinpass is a firm registered with the United Kingdom’s Financial Conduct Authority (FCA) which 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. Since 2018, the company has been serving retail investors, professional traders, and businesses to access the cryptocurrency markets through its proprietary on-ramp and trading technology.
Led by Gavin Bambury, CEO, Oanda is an online trading group offering multi-asset trading, currency data, and analytics to retail and corporate clients around the globe. With regulated entities in many of the 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 a trading platform.
FinSMEs
22/08/2023