Pascal Warnecke Appointed Managing Director of NAGA Brokers

Pascal Warnecke is the latest addition to the brokerage subsidiary of NAGA Group, called NAGA Brokers. He has been appointed as Managing Director after serving on the board of NAGA Markets since 2016.

NAGA Group is a Frankfurt-listed firm that has a suite of products which include mobile app SwipeStox. Last year the company also raised $51 million with NAGA Coin.

According to the firm’s roadmap, it is set to launch an exchange for cryptocurrencies and gaming items in October. The company’s stock is close to all-time lows. After debuting on the Frankfurt Stock Exchange valued at around €200 million, the firm’s current valuation is closer to €40 million.

NAGA Ecosystem

A month into the new regulatory framework from ESMA, the industry is looking at a radical shift in client behaviour. The ecosystem on which NAGA has been working is launching at a time when user acquisition costs have skyrocketed, while trading volumes across Europe are on a declining trend.

Geographical diversification has become crucial for the survival of the industry as brokers are looking for new clients from emerging markets. At the same time, EU clients are looking for offshore brokerages to do business with.

NAGA Markets is offering its own proprietary NAGA Trader app as well as MetaTrader 4. The standard offering of the firm comes at a time when the industry is increasingly dependent on diversification. The key to attracting and retaining clients will be in the firm’s ability to offer a unique product.

NAGA Exchange

The post-ICO plans of NAGA Group include an exchange for cryptocurrencies and gaming items. Provided that there are no delays, the launch of the venue will come at a time when interest in trading cryptocurrencies has significantly declined.

The challenge for Warnecke is to run the brokerage side of the group at a time when the European retail business is experiencing a major transition. That said, he has almost 20 years of experience in the brokerage industry, spending most of his career at Hanseatic Brokerage Securities in Hamburg.

(Photo: NAGA Group)

Bitcoin (BTC) $ 65,451.54 5.25%
Ethereum (ETH) $ 3,512.39 2.63%
Tether (USDT) $ 1.00 0.04%
BNB (BNB) $ 418.71 1.46%
Solana (SOL) $ 132.53 3.14%
XRP (XRP) $ 0.656738 5.06%
Lido Staked Ether (STETH) $ 3,507.84 2.69%
USDC (USDC) $ 1.00 0.04%
Cardano (ADA) $ 0.779574 7.12%
Dogecoin (DOGE) $ 0.163850 17.49%
$0.0000  $0.0000  (0.00%)
$0.0000  $0.0000  (0.00%)
$0.0000  $0.0000  (0.00%)
$0.0000  $0.0000  (0.00%)
$0.0000  $0.0000  (0.00%)
$0.0000  $0.0000  (0.00%)