Some financial technology sectors see the potential in cryptocurrencies and offer a few of the major ones as investment options. The company, Naga Group, is genuinely excited about what the blockchain offers. As a fully functioning and publicly traded organization, they anticipate a trading world without commissions. This makes the Naga Group the first ICO participant that has had an IPO.
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The Naga Group has an advantage, it is an already publicly traded fintech company founded in Hamburg, Germany. Founded in October 2015, Naga Group is a fintech company that produces companies that embrace technological changes in financial markets. One of their products, SwipeStock allows traders to trade stocks on a social network. It is often called the “Social Network” or the “Facebook” of trading. SwipeStox won an innovation award at FINOVATE in London 2016 for its ability to allow anyone to invest in financial instruments, such as market indices, forex, and CFDs.
Another Naga Group product, Switex, is an exchange for items from video games powered by the Blockchain. Individuals will be able to sell items they earned in approved video games for currency. Publishers will also have a space where they may sell virtual goods.
With their Token Sale, the Naga Development Association Ltd. has partnered with the Naga Group to introduce NGC (Naga Coin) and Naga Wallet. The Naga Wallet will store NGC which will allow you to purchase assets listed on SwipeStox and Switex.
The Naga Group has an advantage in the app SwipeStox, as it already has three to four billion dollars in trading volume every month on its platform. The Naga Group also has investments from the financial community. One of the oldest banks in Europe, Hauck & Aufhaeuser, invested in Naga Group in 2016.
As a fully established company with growth of 400% since its IPO on the Frankfurt Stock Exchange (FSE), Naga Group represents stability in the world of ICOs. It also already has a list of financial licenses from BaFin and CySEC. And all of its operations is built on top of a sound legal set up.
Now, with a market cap of 200 million euros, Naga Group is looking to change the way we bank and provide banking technology to the unbanked. By essentially democratizing the way we trade stocks with NGC, Naga Group wants to provide equitable financial tools to those who may not have access to them before. And although a small commission will be implemented at the start, Naga group plans to eliminate commissions by Q2 of 2019.
Naga Development Association Ltd., in partnership with the Naga Group, will release 220 million NGC to the public in their main sale on December 1st. 20 million NGC will be made available in the pre sale on November 15th. There will be certain advantages in each sale.
In the pre sale, there will be a 30% bonus NGC. There will also be a referral program that rewards 5% of any purchase over 10 NGC by the referred user to the referrer. The pre sale that is capped by 20 million will end November 31st. And the main sale capped at 200 million will end December 15th.
Every nation may participate in the Token Sale except US, China, and states embargoed or sanctioned by U.S.