World’s largest cryptocurrency exchange, Binance, has entered a strategic partnership with Hamburg based financial company, NAGA Group. NAGA Group is a publicly traded financial company, with a focus on trading, transactions, the sale, and exchange of virtual goods and cryptocurrencies.
The most important part of the strategic cooperation is that those holding the cryptocurrency Binance Coin (BNB) will be able to buy investment products offered directly on NAGA Trader which includes, over 800 products, such as stocks, commodities, ETFs or foreign currencies.
Yasin Sebastian Qureshi, Executive Director of NAGA, says,
“Binance is the fastest growing cryptocurrency platform in the world and one of the largest ever in terms of market capitalisation. So far, Binance has partnered with just a few select projects – and NAGA is now one of them! This makes us incredibly proud and shows that we are offering the right added value for the community and crypto-market leaders.”
Benjamin Bilski, another Executive Director of NAGA, is pleased about the new partnership and the millions of potential new customers it could bring to the NAGA Universe.
“Driving the acceptance of cryptocurrencies is one of our biggest priorities. We therefore welcome the fact that we can include another cryptocurrency in our community. BNB customers also benefit from our extensive array of products, which range from banking to stock trading and investments in in-game items.”
Using Cryptocurrencies to Directly invest
All NAGA customers now have the option of using Bitcoin and Ethereum directly as a base currency for financial products and investments. Traders in NAGA can now exchange Bitcoin and Ethereum for stocks and other financial products.
The NAGA Trader trading platform can now be used to purchase all available investment products via a Bitcoin or Ethereum account. Benjamin Bilski adds,
“Recent developments in the crypto-markets have meant that direct cryptocurrency trading is currently less attractive to some customers. NAGA now offers crypto-investors a way to actively use their crypto-balance for trading. This is a major milestone in cryptocurrencies. Potentially “idle” cryptocurrencies will now become real currencies with a new and practical area of application to open trading in almost all of the world’s most liquid and popular financial instruments.”
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