NAGA Group AG (XETRA: N4G, ISIN: DE000A161NR7), a top-tier provider of trading infrastructure, breaks into cryptocurrency segment with its NAGAX platform.
NAGAX cryptocurrency platform launched by NAGA Group
According to the official announcement shared by NAGA Group AG, it has launched its pioneering cryptocurrency trading platform fore retail users, NAGAX exchange.
Its products stack boasts cryptocurrency wallet for 50+ assets with a built-in exchange function. Also, its "social" trading module unlocks various opportunities for community building.
NAGAX dashboard also supports a newsfeed that broadcasts the latest news on blockchain and cryptocurrencies. The crypto influencer segment allows the top speakers of Crypto Twitter to share their statements on Web3 and digital assets.
Benjamin Bilski, founder and CEO of NAGA Group AG, adds that this expansion looks natural given NAGA Group's experience in the global trading business:
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.
Brokerage revenues spike to new highs
Shortly after the launch of the crypto trading platform, NAGA Group is going to unveil its own platform for non-fungible tokens and a staking module, dubbed NAGA Earn.
As covered by U.Today previously, NAGA Group celebrated the launch of its cryptocurrency trading platform with a $35,000 airdrop.
This announcement comes amid record-breaking trading volume and brokerage revenues witnessed by NAGA Group. It amassed €8 million in revenues over the last 30 days, which is three times higher than a year ago.