German Fintech Naga to Start Crypto-Focused Social Trading Platform

Nagax will consist of a crypto wallet, NFT and staking platforms, a spot exchange and a futures and derivatives exchange.

Jan 13, 2022 at 3:38 p.m. UTC
Updated Jan 13, 2022 at 4:56 p.m. UTC

Publicly traded German fintech Naga, which offers investment in stocks and crypto via its mobile app, will start a social trading platform in 2022 called Nagax, Naga announced Thursday.

  • The platform, set to launch in the first quarter of this year, will consist of a crypto wallet, a non-fungible token (NFT) platform, a staking platform, a spot exchange with around 700 tradable assets and a futures and derivatives exchange.
  • Nagax will aim to offer a "unique Web3 social trading experience," whereby user-generated content on the platform is converted into NFTs that can be monetized.
  • "Any user who has access to an Ethereum-based wallet can unlock the content immediately. Each content is thus tokenized and can even be traded as an NFT itself," said Benjamin Bilski, Naga CEO, in a statement.
  • Bilski believes that the platform will see great demand by offering traders content that incorporates a variety of content from multiple channels while also featuring a monetization stream for crypto influencers.
  • Naga trades on the Frankfurt Stock Exchange with a market capitalization of around EUR 270 million ($310 million).


The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Jamie Crawley is a CoinDesk news reporter based in London.