Online multi-asset trading services provider OANDA has announced its partnership with Kaiko, a digital asset data provider, to build auditable cryptocurrency pricing.
The collaboration has Kaiko’s extensive crypto market data, comprising 15,000 digital asset pairs, combined with OANDA’s exchange rate data that includes rates for over 38,000 currency pairs. The partnership will allow tax and audit professionals access to auditable and compliance-ready digital asset data products.
OANDA CEO, Gavin Bambury, said:
This partnership with Kaiko is a great demonstration of our continued efforts to enhance our market data services and support businesses to protect their bottom line. As more enterprises embrace cryptocurrencies as part of their activities, the addition of accurate and transparent cryptocurrency rates to our solutions will enable them to evolve efficiently.
Ambre Soubiran, CEO of Kaiko, added:
We are glad to partner with OANDA to bring IFRS and US GAAP-compliant exchange rates to Kaiko’s data services. Auditable FX rates are essential to a number of financial activities, and it was important for us to link Kaiko’s digital assets market data to a reliable FX data provider like OANDA. Ensuring the best data quality all along the path from crypto exchanges to fiat will reinforce our ambition to create a consolidated data offering bridging traditional and crypto finance.
Auditable foreign exchange and digital asset rates are necessary for finance professionals to run their business across a variety of financial activities, such as reporting, reconciliation and auditing. Under the partnership agreement, OANDA and Kaiko’s business and corporate clients will have access to accurate prices for both crypto and fiat currencies. The service will allow OANDA’s B2B clients to access auditable crypto/fiat prices powered by Kaiko for their financial reporting needs, while users of Kaiko services will gain access to OANDA’s compliant FX rates (which follow all IFRS and US GAAP standards) through dedicated crypto/fiat and fiat/fiat FX data feeds.
Earlier last year, OANDA launched crypto trading offering in the US Market, developed in partnership with regulated blockchain infrastructure platform, Paxos Trust Company.
