NAGA Group borrows $6 million to repay Convertible Notes due Oct 30
NAGA stated that it is soon launching its first ever White Label partnership with a regulated online-brokerage from Kuwait.
NAGA stated that it is soon launching its first ever White Label partnership with a regulated online-brokerage from Kuwait.
In Q2 2023 Revenues at NAGA declined to just €7.9 million, a 32% quarter-to-quarter decline from Q1.
The letter hints at some of the problems which have been plaguing NAGA, which led to the recent ouster of longtime CEO Ben Bilski.
NAGA co-Executive Director Michael Milonas will become Group CEO, while Benjamin Bilski is moving to focus on technology as CIO.
The move comes as NAGA seems to have turned a corner following a loss-making 2022.
NAGA saw $13.5 billion in monthly trading volumes in Q1-2023, basically identical to the $13.6 billion it averaged in 2022.
Matthew Kent joins CySEC-licensed NAGA.com after spending the past two years in a similar role at Eurotrader.
Vince De Castro was previously CMO of CySEC licensed brokers NAGA.com (2019-20), FXPrimus (2018-19), and Orbex (2017-18).
Investors and traders seem to be selling last year’s “did well” stocks, without much regard to current performance and outlook.
Ruslan Abuzant joins MultiBank from NAGA Group, where he spent just five months as a Senior IT Consultant.