The NAGA Group AG

  • WKN: A161NR
  • ISIN: DE000A161NR7
  • Land: Deutschland

Nachricht vom 12.11.2018 | 13:03

The NAGA Group AG: NAGA product offensive: The NAGA Exchange launches in beta version - further applications expand the NAGA Universe

DGAP-News: The NAGA Group AG / Key word(s): Product Launch

12.11.2018 / 13:03
The issuer is solely responsible for the content of this announcement.


 

- Initiated on 2 November in a "closed beta" version, the NAGA Exchange is now available and supports classic fiat currencies as well as well-known crypto-pairings, including the company's own NAGA Coin (NGC)

- Cyprus Securities and Exchange Commission (CySEC) has agreed to the ownership control procedures at NAGA Markets Ltd

- NAGA Guard is now available. It thoroughly analyses each crypto-asset and provides users with risk scores, liquidity information and information on conspicuous market activities

- All NAGA products are fully connected to the NAGA Wallet via a "single sign-on" (SSO) access - and thus to the entire NAGA Ecosystem

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Hamburg, Monday, 12 November 2018

The Hamburg-based THE NAGA GROUP AG (NAGA) - a publicly listed financial company and FinTech with a focus on trading, transactions, virtual goods commerce and cryptocurrencies - is putting forward another product offensive: thus, since 2 November, the NAGA Exchange has been available to existing NAGA customers in a "closed beta" version under the domain www.nagax.com. In addition, the Cypriot regulatory authority CySEC last week approved NAGA Markets Ltd's ownership control procedure: Shares belonging to Yasin Sebastian Qureshi have now been transferred to The NAGA Group AG. Further innovations and updates are also on the market for NAGA customers as of now.

Yasin Sebastian Qureshi, Executive Director of NAGA, commented on the NAGA Exchange: "We always offer our customers the best deal. Our first-class service is however also possible first and foremost due to the excellent quality of the technology behind it. The NAGA Exchange is one of the fastest in the world and can process more than ten million transactions per second. The front end and its corresponding IT landscape are state-of-the-art. Everything is scalable on a multi-regional level and has proven successful over the last two years in processing billions of transactions under maximum load."

Benjamin Bilski, also Executive Director of NAGA, adds: "In addition, the NAGA Exchange will have its own API (Application Programming Interface) for automated trading and will be an integral part of the NAGA Crypto.SDK. SDK stands for Software Development Kit, which will enable all financial services companies in the world to make their own business blockchain-enabled with little effort. In this way, for example, a payment service provider can become a partner to us and help its customers exchange funds for cryptocurrencies with one click - without having to build a complex blockchain backend themselves."

Fees for the later official version are based on the so-called "Tier 1-8 Model", where fees can be reduced through trading volumes and certain supplies of NAGA Coins. Trading in fiat currencies ("official" currencies such as Euro or US-Dollar) is only permitted if users have an approved live account with NAGA Markets or NAGA Capital, subsidiary respectively partner company of The NAGA Group AG. NAGA will perform the beta test until the team and users are satisfied. Once functionality and user experience are optimal, the NAGA Exchange will officially be launched.

In addition to the NAGA Exchange, NAGA is bringing further innovations to the market: As a result, it is henceforth no longer necessary to visit various websites of relevant cryptocurrencies if one wishes to get a price overview. Now there is NAGA Guard. It thoroughly analyses each crypto-asset and provides users with risk assessments, liquidity information and information on conspicuous market activities. NAGA Guard is connected to various interfaces and has at its disposal first-hand data. Within the NAGA Exchange, users can easily check the details of each asset by tapping the "NAGA Guard" button. NAGA Guard is directly accessible at www.naga-guard.com. Further widgets and improvements are in the planning, giving NAGA customers even more transparent insight into crypto-markets.

Qureshi continues: "Our current NAGA innovation offensive is rounded off by a further innovation: With NAGA Crypto Beam, all the usual crypto-pairings (i.e. the exchange rate between two cryptocurrencies) can be exchanged in real time for the best market prices with a single push of a button. The swift and user-friendly transaction is carried out in the background via the NAGA Exchange."

Improvements have also been made to the NAGA Wallet. "The update offers, among other things, a leaner and slicker design and improved process for purchasing NAGA Coins (NGC) in just a few steps - and all this without overpriced fees," Bilski concluded. The NAGA Wallet is now available at www.nagawallet.com.

Characters (with spaces): 4.838

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Tags, Keywords:
The NAGA Group
NAGA
NAGA Exchange
NAGA Wallet
NAGA Guard
NAGA Trader
CySEC
NAGA Crypto Beam
NAGA Wallet
Yasin Sebastian Qureshi
Benjamin Bilski

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THE NAGA GROUP AG:
THE NAGA GROUP AG (NAGA) was founded in August 2015 by Yasin Sebastian Qureshi, Benjamin Bilski and Christoph Brück. The company's goal is to drive the development, marketing and growth of disruptive applications for financial technology, and to actively participate in the change and opening up of the existing financial system. The word "NAGA" is Sanskrit and means "Cobra snake". It is also the name of the world's hottest chillies.

Link THE NAGA GROUP Website: https://www.naga.com

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Contact:
The NAGA Group AG
Alexander Braune
Neustädter Neuer Weg 22
20459 Hamburg
E: press@naga.com

UBJ. GmbH
Ingo Janssen
Haus der Wirtschaft
Kapstadtring 10, 22297 Hamburg
T: 040 6378 5410
E: ir@ubj.de



12.11.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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