Furthermore, NAGA effectively reduced its direct marketing expenses and successfully drew in fresh clientele. The average deposit amount from these new customers nearly twofolded when compared to the figures of 2022. Sam Chaney, Chief Commercial Officer of NAGA, said: We are thrilled with our performance and future growth prospects. Our focus on cost reduction and…
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Michael Milonas commented: We are delighted to announce the appointment of Sam Chaney as the new CCO for NAGA. With a wealth of experience in the industry, Sam Chaney will be a valuable addition to the team. Chaneys added: I am extremely excited to be joining NAGA and being part of such an innovative and…
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NAGA stated in their update that the assets under custody have increased to EUR 35 million, representing a growth of 45% compared to the previous reported HY1 2022 figure of EUR 24 million. Additionally, the company said it lowered its monthly cost to an average of EUR 3.3 million during Q1 2023, a 40% decrease…
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The company stated: Naga will maintain its current listing status following the consummation of any such transaction. Earlier in October last year, NAGA Group secured a Seychelles license and gained an Estonian crypto license earlier that year. The neo broker also ventured into the crypto industry with its crypto exchange launched in the beginning of…
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Reporting on separate business verticals NAGA announced that it is now planning to report its financial results separately – from its neo brokerage, crypto trading, and payments platform, starting in the second quarter. Bilski commented: All our platforms are by now live and have a clear monetization model in place. Now it's all about scaling …
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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…
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Launch of NAGAX NAGA Group also introduced its new social trading platform focused on cryptocurrencies, NAGAX. The platform is expected to launch in the first quarter of 2022. NAGAX will provide users with Web3 social trading experience, futures and derivatives exchange and a spot exchange supporting over 700 tradable assets. In addition, the platform will…
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Benjamin Bilski, CEO of NAGA commented: We worked hard to deliver the new functionalities and are excited about the possibilities NAGA Pay offers to our customers. Besides being able to make payments and send money, users can also invest with one tap in over 1,500 assets including straight equities for just EUR 0.99 per trade.…
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The Group also revealed its own NFT marketplace, to be released in the fourth quarter of the year. The “Non-Fungible-Token” platform allows assets or their ownership structure to be digitally stored on a decentralized database via the blockchain. NFTs are gaining popularity in digital art, sports, and music with estimated trading volume in 2020 of…
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After this investment, the number of members of the Supervisory Board will be grow from four to five at the upcoming Annual General Meeting. The company will nominate Christian Angermayer as a new member. The Annual General Meeting was postponed from September 23, 2021 to October 11, 2021 in order to add this agenda. Christian…
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