NAGA taps gaming expert Stelios Eleftheriou to head payment, crypto business

abdelaziz Fathi

NAGA Group has appointed FX industry veteran Stelios Eleftheriou , who has a colorful career across the gaming industry, to head its cryptocurrency platform NAGAX and neo-banking app NAGA Pay.

Stelios Eleftheriou

As managing director of NAGA Pay & NAGA X, Stelios will focus on enhancing the payments experience for users, scaling the service offering and work towards contributing to the German brokerage house’s vision of digital and financial inclusion.

Eleftheriou lands at NAGA after leaving a long tenure of nearly six years at Parimatch Cyprus, where he was CEO of the gaming /betting broker. He brings with him 17 years of experience in digital financial services including different stops at binary options platforms.

“I’m happy to share that I have started a new position at NAGA as Managing Director of NAGA Pay and NAGA X. The #NAGA Group AG is a German based FinTech company publicly listed on the Frankfurt Stock Exchange and is the Holding company of various companies holding several financial licenses across the globe. #NAGAPay is the payments’ wing of the Group and #NAGAX is an all-in-one, licensed social crypto investing platform. I’m humbled by the trust, grateful and excited for the opportunity,” Eleftheriou wrote on his Linkedin profile.

The Germany-based broker launched its brand-new social trading platform focused on cryptocurrencies back in March. NAGAX consists of a futures and derivatives exchange, crypto wallet, an inbuilt NFT platform, a staking platform, and a spot exchange with around 700 tradable assets. The platform also aims to offer a unique Web3 social trading experience, whereby user-generated content on the platform is converted into NFTs that can be monetized.

NAGAX provides clients with quick access to NAGA native coin, the NAGA Coin. The exchange is also connected to its parent’s financial community and social investing network, bringing together more than half a million traders from all over the globe. The network is a digital space for newcomers and skilled traders to share their experiences, discuss focal issues and market conditions via personal, group, or public chats.

In addition, the company is focused on expanding its regulatory map, having recently secured an Estonian crypto license for NAGAX. Further, two more crypto asset service provider licenses are in flight and expected to be granted in 2022, the company said.

Read this next

Inside View

Private Equity Renaissance

Recent years have seen a resurgence in the concept of trading physical equities, with a slew of new arrivals joining the market for what is arguably one of the oldest forms of investing. But what has been the driving force behind this change in momentum?

Digital Assets

Dubai introduces new crypto regulations with fines of up to $135,000

Against the backdrop of a crashing market and burned investors, Dubai has sealed a landmark rulebook that governs how the Emirate will regulate cryptocurrency activities.

Institutional FX

FX volume drops 16pct at Russia’s largest exchange in January

The Moscow Exchange, Russia’s largest exchange group, released its monthly batch of trading volumes and metrics for January 2023 – the latest readings showed a pullback across the board for multiple segments, namely in the FX, given lower volatility and a reduced trading schedule.

Institutional FX

Standard Chartered sets up wholly-owned brokerage arm in China

UK-headquartered bank Standard Chartered said its Hong Kong arm has been granted an in-principle approval for a brokerage license from the China Securities Regulatory Commission (CSRC).

Digital Assets

Revolut offers staking for Ether, Cardano, Polkadot, and Tezo

British fintech and banking firm Revolut has introduced crypto staking — a practice of earning rewards for serving as a transaction validator in the Ethereum blockchain – to its UK and European Economic Area (EEA) customers.

Inside View

Saxo releases Q1 2023 Quarterly Outlook: “The Models Are Broken”

“2023 is likely to prove a rough ride for currencies if the USD bear market fails to continue in a straight line, but EUR and JPY may outperform.”

Institutional FX

FXPA welcomes Mesirow as a member of the institutional FX industry body

“Our deep commitment to advancing best practices align well with FXPA’s goals of championing a robust FX market for all industry participants.”

Industry News

ICE delivers Russian-free barrels of ICE Gasoil and expands ESG data in APAC

ICE changed the methodology for Low Sulphur Gasoil futures from previously delivering diesel from any origin, to deliver diesel that does not include any originating from Russia. ICE Gasoil is the global benchmark for refined oil products.

Digital Assets

Gate.io taps Coinfirm for AML/CFT compliance amid licenses in the US, Europe, Hong Kong

“At Gate.io, we continuously strive to mitigate AML/CFT and counterparty risks by integrating best-in-class security measures and safeguards into every part of our operations.”

<