THE NAGA GROUP AG (WKN A161NR, ISIN: DE000A161NR7, Ticker: N4G) was able to achieve historic records in the first two months of 2018 thanks to its brokerage business.
With a total turnover of around 2.7 million Euros and an increase in the average trading volume to more than 5 billion Euros per month, January and February 2018 were absolute record months for the company founded in 2015. A significant increase in market volatility was decisively responsible for this impressive start to the year. Thus, the trading volume increased by 42% and the number of new, live trading accounts went up by a whopping 306%.
"We are more than satisfied with the start of the new financial year and we have seen strong growth in all businesses. Our strong brokerage business, coupled with the adoption of cryptocurrency pairs and cryptocurrency deposits, will allow us to efficiently address a broader customer base. We are excited to announce that we are profitable in our operations," said Yasin Sebastian Qureshi, founder and Executive Director of NAGA.
NAGA will reach another milestone at the end of March with the launch of the beta version of NAGA VIRTUAL, the trading platform for virtual goods that NAGA operates through a joint venture with Deutsche Börse Group. The first official partner of NAGA VIRTUAL is the leading Japanese game developer, Asobimo.
For April, and thus two months before the planned release date, NAGA plans the official launch of the NAGA WALLET. The NAGA WALLET is a digital wallet that allows users to deposit, withdraw and partially convert to Bitcoin, Ethereum, LiteCoin, Ripple, Dash, Bitcoin Cash, NAGA COIN, and more than 1,200 other ERC-20 based tokens. Charges for disbursements are levied in "NaGas", based on the international standard "Gas" as a transaction fee, where 1 NGC = 1 NaGas. With the help of the NAGA COIN, customers can transfer tokens to any wallet or crypto exchange cost-effectively. NAGA WALLET will also be directly connecting to NAGA's brokerage, where NAGA customers will be able to trade NGC-based trading accounts and use NGC as their deposit method.
"With the launch of NAGA WALLET, we will provide our customers with a unique tool that makes getting into the world of cryptocurrencies easier than ever before. Our automated token service integrates the tokens of any Ethereum based ERC-20 standard ICO and indexes all key data such as volume, market capitalization, or token price in real time. We believe that future ICOs will also be using NAGA WALLET's drafts as a tool, recognizing that current solutions have completely disregarded usability and are therefore hindering many potential ICO investors," added Benjamin Bilski, founder and Executive Director of NAGA.
There is also positive news regarding NAGA stock: it is now one of the most liquid stocks in the Scale segment of Deutsche Börse AG and has been included in the new Scale 30-Index, which was recently introduced by the Deutsche Börse AG. For inclusion in this index, the order book turnover on Xetra and the Frankfurt Stock Exchange prevail. In the latest ranking, The NAGA Group AG boasts a very promising performance here at 11th position.
In other news, as part of a new marketing strategy, NAGA's award-winning social trading network "SwipeStox" was recently renamed NAGA TRADER. This was done with the intention of achieving a global branding strategy with "NAGA" as the anchor name. In order to ensure uniform branding, the domain www.naga.com was recently acquired, which in the future will become the central contact point for all offers of the NAGA Ecosystem.