NAGA Group, provider of the social network for trading, cryptocurrencies and payments NAGA.com, has announced the launch date of its crypto exchange NAGAX and a trading update.
On March 7, 2022, NAGA launches its brand-new social trading platform NAGAX focused on cryptocurrencies. NAGAX will launch with a crypto wallet as well as a crypto exchange with more than 50 assets.
"Thanks to years of experience as a market maker, connected to a wide variety of liquidity pools, we feel we are ideally positioned to offer a top service in physical crypto trading. NAGAX will offer fast, secure and affordable trading. We expect that the focused crypto division will be able to generate more revenue than the existing brokerage business in the next 18 to 24 months,"commented Benjamin Bilski, founder and CEO of NAGA Group AG, on the imminent launch.
NAGAX is all about the community. A unique personal newsfeed will include cutting-edge news and there will be a platform for crypto influencers.
Shortly after the launch of NAGAX, NAGA will release its NFT as well as Staking platform under the label "NAGA Earn".
NAGA can also report a dynamic start into the year 2022. Brokerage revenues climbed to a new monthly high of around EUR 8 million (preliminary; previous year: EUR 2.8 million), almost tripling compared to the same month last year.
"A very pleasing start to a new successful year for NAGA. We will continue to accelerate our growth in a targeted manner. In addition, we are increasingly working on global M&A activities as well as partnerships, which we intend to announce as soon as possible,"added Bilski.