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The NAGA Group AG (NAGA), a well-known fintech company, released an official statement on January 19th, 2023, hinting that it may collaborate with a "Multi-Country" broker. Mergers are becoming quite popular in the industry, and Naga is jumping on this trend.
Naga has been working towards finding partnerships that will boost its brokerage services, cryptocurrency platform, and neo-banking app. While the supposed "Multi-Country" broker remains anonymous, the merger announcement is already generating positive feedback.
Details of the Proposed Merger Between NAGA and the "Multi-Country" Broker
In the first Quarter of 2022, NAGA announced plans to accelerate its reach and offerings by exploring strategic acquisitions across Europe and Southeast Asia. Hence, the company's notable expansion moves in March and October. During this time, the company launched NAGAX, a cryptocurrency exchange platform, and secured a Seychelles license.
The brief but formal public statement released on Thursday proves that the company is still committed to its expansion plans. The statement also suggests that the two companies are expected to reach a consensus before the end of 2023. The statement also hints that NAGA intends to maintain its listing status when the deal is completed.
It is worthy of note that the released statement suggests that the transaction between both companies will merely be a merger and not a total acquisition of the company. According to the released statement,
"NAGA is holding discussions to pursue a potential strategic transaction with a multi-country brokerage firm, potentially in the form of a merger of the two companies."
In the past year, the company announced that it would return to the United Kingdom in 2023. The UK, according to NAGA, continues to be one of the most significant marketplaces for the world's top CFD market. Only time will tell if this anonymous "Multi-Country" broker is one of the best Forex brokers in the UK.
About NAGA
Since its establishment in 2015, NAGA Group has become a popular international multi-trading and investing platform offering over 950 assets. The Group supports EFTs, indices, commodities, stocks, and Forex trading. Its services can be traded in USD, EUR, PLN, NGC, and GBP.
NAGAX, the company's newest cryptocurrency exchange platform, has over 700 tradable assets. To provide a distinctive Web3 social trading experience, the platform also seeks to enable users to turn their user-generated content into monetizable NFTs.
Apart from its headquarters in Germany, NAGA seeks to expand its investment services across the globe. To achieve this global reach, NAGA has subsidiaries in different countries, one of which is NAGA Markets Europe Ltd., which is subject to CySEC regulation.
