Nagax, the Crypto Trading Platform of German Fintech Naga, Set to Launch

The social trading platform will focus on cryptocurrencies and include a crypto wallet and crypto exchange with more than 50 assets.

AccessTimeIconMar 7, 2022 at 5:22 p.m. UTC
Updated May 11, 2023 at 7:16 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

German fintech Naga (N4G), which offers investment in stocks and crypto via its mobile app, said the crypto trading platform it announced in January will start operating March 7.

  • The social trading platform Nagax will focus on cryptocurrencies and include a crypto wallet and a crypto exchange with more than 50 assets.
  • A planned non-fungible token (NFT) and staking platform "NAGA Earn" will be introduced "shortly," the company said in a statement.
  • Nagax will aim to offer a "unique Web 3 social trading experience," whereby user-generated content on the platform is converted into NFTs that can be monetized, the company said at the time of the announcement.
  • "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," CEO Benjamin Bilski said in the statement. The company reported record brokerage revenue of EUR 8 million ($8.7 million) for January.
  • Shares of Hamburg, Germany-based Naga fell 6.9% on the Frankfurt exchange Monday.
  • FTX Bankruptcy Claims Deadline; UK Crypto, Stablecoin Rules Passed Into Law
    02:16
    FTX Bankruptcy Claims Deadline; UK Crypto, Stablecoin Rules Passed Into Law
  • US Sanctions Russian Darknet Marketplace Hydra
    06:29
    US Sanctions Russian Darknet Marketplace Hydra
  • The State of Crypto in South Africa
    07:10
    The State of Crypto in South Africa
  • Germany’s Central Bank Is Testing Blockchain-Based Alternatives to CBDCs
    05:10
    Germany’s Central Bank Is Testing Blockchain-Based Alternatives to CBDCs
  • Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Sheldon Reback

    Sheldon Reback is a CoinDesk news editor based in London. He owns a small amount of ether.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.