NAGA taps Stelios Eleftheriou to head payment, crypto business

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.