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On Oct. 20, Oanda announced the launch of cryptocurrency trading services for its American market, to give investors easy access to crypto alongside their existing forex portfolios.

This move makes Oanda the latest traditional finance company to enter the crypto space.

However, the development is amid the  depths of a bear market when demand is low.

Nevertheless, the technology has been developed in partnership with the Paxos Trust Foundation, a regulated blockchain infrastructure firm.

With this tech, U.S. customers will be able to trade crypto through the Paxos itBit exchange directly through the Oanda mobile platform.

According to the announcement, some trading functions like stop losses, limit orders, etc. are also available.

Oanda CEO, Gavin Bambury, noted that crypto assets should be available for traders and investors.

“As the number of Americans 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.”

Ed Moya, a renowned market analyst at the firm,  added that the evolution of institutional investment in crypto has

 “led to a stabilization period that has major players such as Schwab, Citadel, and Fidelity, forge ahead with new digital asset offerings in the cryptoverse.”

Institutional adoption is increasing, which may entice retail traders back into the asset class again, he added.

By Meekness Nnoka

Blockchain Analyst & Writer with top-notch Technological background. Enjoys reading and writing fascinating crypto contents. 4 years content creating experience.

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