Global onlinte trading services provider OANDA has announced its partnership with regulated blockchain infrastructure platform Paxos Trust Company.
The partnership will allow OANDA’s US customers to engage with Paxos and its digital asset custody platform. OANDA’s clients will gain access to crypto alongiside forex instruments available on the platform.
According to the official announcement the company plans to introduce that access later in the year.
Gavin Bambury, Chief Executive Officer of OANDA, said:
The relationship with Paxos signals the start of an exciting new phase of growth for OANDA, creating a significant opportunity in the US market.
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.
Walter Hessert, Head of Strategy of Paxos, added:
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.
Earlier this month, OANDA appointed Jessica Beckstead as Managing Director, North America, and CEO, US. In July 2022, OANDA promoted Philip Waters as Head of APAC and Emerging Markets.