NAGA Group, a Germany-based fintech firm that operates a regulated
neo-broker, neo-banking app and a cryptocurrency platform, disclosed on
Thursday that it’s working in the direction of signing “a possible strategic transaction
with a multi-country brokerage agency.”
The transaction might “probably” emerge as a merger of the
German fintech with the unnamed dealer, the corporate stated, including that it
expects the deal to be accomplished by the fourth quarter of the 12 months. Nevertheless, NAGA in a press release, famous that the
potential deal is topic to due diligence, customary situations precedent and
regulatory approval.
“Naga will keep its present itemizing standing following the
consummation of any such transaction,” the corporate stated within the Thursday assertion.
Watch this webinar on beginning a brokerage agency hosted by Finance Magnates.
The announcement of the potential deal follows strategic enterprise
enlargement strikes at NAGA in latest months. In early 2022, the corporate had stated it was exploring strategic acquisitions in Europe and Southeast Asia to
speed up its enlargement plan.
In mid-October 2022, the German fintech secured a Seychelles license to strengthen its
banking and fee enterprise. The event got here six months after the corporate
gained a crypto companies supplier license in Estonia.
A month earlier (March 2022), the
agency launched NAGAX, a cryptocurrency
alternate , thereby increasing the corporate that started off as a copy-trading service
supplier. The group can be planning to launch a crypto buying and selling platform in
Brazil as NAGAX lately signed a letter of intent with Information Investimentos, a
Brazilian digital asset administration firm owned by FOSUN, to ascertain a joint
enterprise within the Latin American nation.
The corporate additionally lately disclosed its plans to re-establish its presence within the UK in 2023.
It described the UK as its “greatest market up to now and likewise the most important CFD market
on the planet.” In November, the corporate employed Eurotrader’s Matthew Kent, a UK-based capital
market skilled, as its Director of Institutional Gross sales.
In the meantime, regardless of the bear market in 2022, NAGA reported a 51% development in its half-year 2022 income with consolidated income reaching €35 million, up from €23.2 million within the prior interval final 12 months.
NAGA Group, a Germany-based fintech firm that operates a regulated
neo-broker, neo-banking app and a cryptocurrency platform, disclosed on
Thursday that it’s working in the direction of signing “a possible strategic transaction
with a multi-country brokerage agency.”
The transaction might “probably” emerge as a merger of the
German fintech with the unnamed dealer, the corporate stated, including that it
expects the deal to be accomplished by the fourth quarter of the 12 months. Nevertheless, NAGA in a press release, famous that the
potential deal is topic to due diligence, customary situations precedent and
regulatory approval.
“Naga will keep its present itemizing standing following the
consummation of any such transaction,” the corporate stated within the Thursday assertion.
Watch this webinar on beginning a brokerage agency hosted by Finance Magnates.
The announcement of the potential deal follows strategic enterprise
enlargement strikes at NAGA in latest months. In early 2022, the corporate had stated it was exploring strategic acquisitions in Europe and Southeast Asia to
speed up its enlargement plan.
In mid-October 2022, the German fintech secured a Seychelles license to strengthen its
banking and fee enterprise. The event got here six months after the corporate
gained a crypto companies supplier license in Estonia.
A month earlier (March 2022), the
agency launched NAGAX, a cryptocurrency
alternate , thereby increasing the corporate that started off as a copy-trading service
supplier. The group can be planning to launch a crypto buying and selling platform in
Brazil as NAGAX lately signed a letter of intent with Information Investimentos, a
Brazilian digital asset administration firm owned by FOSUN, to ascertain a joint
enterprise within the Latin American nation.
The corporate additionally lately disclosed its plans to re-establish its presence within the UK in 2023.
It described the UK as its “greatest market up to now and likewise the most important CFD market
on the planet.” In November, the corporate employed Eurotrader’s Matthew Kent, a UK-based capital
market skilled, as its Director of Institutional Gross sales.
In the meantime, regardless of the bear market in 2022, NAGA reported a 51% development in its half-year 2022 income with consolidated income reaching €35 million, up from €23.2 million within the prior interval final 12 months.
