NAGA to launch crypto exchange NAGAX

NAGA Group AG today announced the launch of its new social trading crypto platform NAGAX, scheduled for March 2022.

At launch, NAGAX will have a crypto wallet, as well as a crypto exchange with more than 50 assets.

Benjamin Bilski, founder and CEO of NAGA Group AG, commented:

Benjamin Bilski, Naga Group

Benjamin Bilski
Source: LinkedIn

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.

The new exchange will also feature a personal newsfeed and a platform for crypto influencers.

NAGA Group

Following the launch, the German fintech online broker will also release its NFT and Staking platform under the label “NAGA Earn”.

Additionally, the firm also saw a dynamic beginning of the year. Brokerage revenues went as high as €8 million, nearly triple the amount it recorded during the same period last year.

Bilski added:

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.

LeapRate recently reported that NAGA Group’s revenue reached €55.3 million in 2021.

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