Several innovations are springing up from the backdrop of blockchain technology, and enabling entirely new opportunities to be made available even from existing platforms. These opportunities usually encourage the flexibility and better personal control in the management of assets by individuals through the concept of tokenization.
Creating a universal market token
THE NAGA GROUP AG by implementing blockchain technology is providing the opportunity for anyone across the globe to be able to for the first time, buy, hold and invest in Equities, CFDs, ETFs and commodities, as well as virtual goods of any kind by using cryptocurrencies.
This will be achieved by using the platform’s native token, NAGA COIN. This coin will serve as a decentralized unit of calculation inside NAGA’s innovative trading platforms SwipeStox and SwiteX. This development will liberate users from the inappropriate control measures of banks and corporations that operate non-transparent systems, offering restricted access while charging extremely high fees for their services.
NAGA COIN is a token that will offer universal access and implementation to users and enable access into the financial markets (SwipeStox), Virtual goods (SwiteX) and Cryptocurrencies (NAGA Wallet). This will enable anyone to make money on the platform in a secure and simplified manner, without the complications of banking processes.
Product of a well-established platform
Founded in 2015, NAGA GROUP is one of Europe’s fastest growing FinTech firms, owning various EU-financial licenses from CySec and BAFin. NAGA operates 6 offices in 5 countries, boasting of a market capitalization of more than 230m Euros, nearly 40,000 clients, millions of revenue and billions of USDs of trading volume every month.
The company is also backed by prestigious shareholders like the Chinese FOSUN Group and “Hauck & Aufhaeuser“ (one of Europe´s oldest banks, founded in 1796). The German FinTech company is already listed on the Frankfurt Stock Exchange with over 150 employees and successfully performed an IPO in July 2017 and currently with a share price increase of 400% within less than 3 months.
In order to establish one decentralized cryptocurrency to enable anyone to invest and trade conveniently and securely across all platforms, NAGA will perform an Initial Token Sale (ITS) starting November 20th, 2017. As already mentioned, the platform’s ERC20-based token is called “Naga Coin” (Symbol ticker: NGC) and the ITS is aimed at raising 220m $ by selling 220m NGC to the community.
— The NAGA Group (@thenagagroup) October 11, 2017
Already operating a business with billions of real money in trading volume, the majority of the ITS proceeds will us used to grow the user base and hence the demand for NGC. The remaining part of the ITS proceeds will mainly be used to complete the development/implementation of the NAGA Wallet and further enhance the technology, making trading and investing in virtual goods, financial markets and cryptocurrencies accessible and convenient for everyone.
A properly aligned organization
Considering the reluctance by some countries towards decentralized token sales, especially in places like China where the government openly issued a ban on the exercise within its borders, NAGA’s capacity and robustness negates every impression of inconsistencies that is common with smaller unstable startups.
NAGA’s credential of a very successful IPO and listing on the Frankfurt Stock Exchange ensures that the company is not issuing a security (as was already done on the Frankfurt Stock Exchange) but a true blockchain based token as a unit of account for its platforms and ecosystem. This completely aligns with the regulators’ core objectives preventing unstable token sales that are basically simple re-wrapped unregulated IPOs.
In the future, the company plans to Focus its technology development on user experience, simplicity, peer-2-peer features and transparency to a viable ecosystem for financial markets and virtual goods that maintains a leading role in the crypto-ecosystem for trading and investing. Essential within this process will be connecting as many gaming publishers as well as financial institutions into an open API-ecosystem.