NAGA Group, a German FinTech company listed on the German Stock Exchange in Frankfurt, is preparing the token sale of its NAGA Coin (NGC) with the intention to raise $300 million.
NAGA Group has a CySEC-regulated brokerage firm and asset management company within the group called NAGA Markets Ltd. (former Hanseatic Brokerhouse Global Markets Ltd.) based in Cyprus that specializes in Forex and CFD trading.
The main focus of NAGA Group’s sales and lead-generating engine HBS AG (Hanseatic Brokerhouse Germany & Spain) is on the acquisition and support of traditional customers in the trading segment. Since July 10, 2017, when NAGA Group performed one of the fastest IPOs, the company’s share price has increased more than fourfold.
NAGA Group has two main projects – the social trading app SwipeStox, and Switex, a platform for the trading of virtual goods. The second is still at the stage of development and is planned to be officially launched at the beginning of 2018.
Now the company is in the process of preparing its new product – the NAGA Wallet, which would unite the features of SwipeStox and Switex into a single ecosystem for the social trading of cryptocurrencies, virtual goods and stocks. What is more, NAGA Group is to connect the wallet with the leading crypto-exchanges in order to enable the conversion of fiat money and cryptocurrencies into its custom NAGA Coin.
The transfer of tokens into SwipeStox and Switex will be performed via the NAGA Wallet. Users will be able to choose every platform between different blockchain assets as a source of payment within the NAGA Wallet, and convert a wide range of blockchain assets such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), etc. from one to another by simply using his personal NAGA Wallet.
The NAGA Wallet is designed to become the center of the whole NAGA ecosystem. It provides users with total security and allows the user to deposit and exchange cryptocurrencies and fiat money. It represents a good solution to facilitate investments in stocks or the trade of virtual goods. The NGC will serve as the main currency within the ecosystem.
Until now, there was no centralized exchange for the virtual goods marketplace. With such groundbreaking projects as the NAGA Wallet, this situation is going to change. It provides gamers, traders and developers with total security and transparency allowing them to run their businesses without worrying about the safety of their transactions.
The Token Sale will officially start on November 20, 2017. The pre-sale stage will last until November 27. During that stage, 20,000,000 tokens will be sold with a 30% bonus for early investors.
The main Token Sale will be held from December 1 to December 15. The total amount of tokens available for sale is 300,000,000 NGC. Tokens will be traded at the rate of 1 NGC to $1. All unsold tokens will be burned.
New users of SwipeStox and Switex will be able to select NGC as the base currency and existing ones will have the option to use it as a payment method.