OANDA And Paxos On for Advanced Crypto Trading Ecosystem
To extend and strengthen the trading base, OANDA and Paxos, the two renowned trading brokers in the US agreed of signing a partnership deal. This information was officially released through the press, disclosing that this initiative will allow the two entities to boost their clients’ exposure to cryptocurrencies.
The Chief Executive Officer of OANDA revealed his opinion on the action. The officer commented that the collaboration with Paxos will create a significant opportunity in the US market. He added that the partnership has started a new phase of growth for OANDA.
OANDA offers a wide range of trading services, including CFDs.
The concept of trading has widely spread globally. This is a cause of the wide spread of trading services and continued advancement of technology. In research conducted by PEW Research Centre, close to 43% of Americans aged between 18 and 29 have traded or at some point handled cryptocurrencies.
“As the number of Americans who are seeking exposure to cryptocurrencies grows, it’s becoming clear that digital assets should form part of a unified trading experience for active traders and sophisticated investors. OANDA continues to strive to create an ecosystem built with integrity to meet the evolving needs of our clients. Our partnership with Paxos continues that trajectory as its regulated blockchain infrastructure allows us to provide our clients access to crypto trading, so they have a fast and secure route to the digital economy,” Bambury said.
Paxos Face
Paxos is a widely established blockchain provider regulated both in New York and Singapore. The company is allowed to hold all regulated stablecoin reserves in bankruptcy remote, fully segregated accounts, and only cash and cash equivalent.
The company is listed among the entities that have received funds from leading venture capital firms globally. To date, Paxos has secured more than $540 million in funding.
Walter Hessert, the Head of Strategy of Paxos, noted: “OANDA pioneered internet FX trading, making their entrance into digital asset markets a natural extension of their product. By partnering, OANDA and Paxos will give sophisticated forex traders easy, secure access to the Web3 ecosystem. We’re proud to power OANDA’s crypto offering with our regulated blockchain infrastructure.”
