New York-based multi-asset trading services Oanda rolled out a new crypto trading offering in the local scene. 

Specifically, this freshly introduced service – a collaboration with regulated blockchain infrastructure provider Paxos Trust Company – is reportedly built with a goal of helping investors tap easily into crypto, together with their current forex portfolios in a secure environment. 

The partnership will make it possible for U.S-based investors to spot-trade cryptocurrencies on Paxos’s itBit exchange via Oanda’s mobile platform, per the broker said. 

Investors will also have the ability to open and fund trading accounts, as well as interacting with top cryptocurrencies like Bitcoin and Ethereum. 

Per Oanda, users will receive perks from the firm’s long track record in the forex and derivatives markets.

Oanda’s partner Paxos reportedly operates as a regulated blockchain infrastructure provider which utilizes technology for tokenization, trading and settle assets. 

Paxos developes enterprise blockchain solutions for establishments such as PayPal, Interactive Brokers, Meta, Mastercard, MercadoLibre, Nubank, Bank of America, Credit Suisse and Societe Generale.

Gavin Bambury, the chief executive officer of Oanda, further revealed that the alliance with Paxos offers his company a regulated partner in which to develop its crypto offerings.

Oanda executive Jessica Bestead stated that the plan to roll out crypto trading services was “in response to the needs of active traders,” showing signs of more market participants were displaying an interest in achieving exposure to digital assets.

Established in 1996, Oanda claims to be the pioneering firm to share exchange rate data free of charge on the internet, releasing a forex trading platform that helped to pioneer the development of web-based currency trading half a decade later.