Hamburg based social trading platform, NAGA Group, is looking at the cryptocurrency as a key part of their upcoming payment app called NAGA pay – which will be made available to users in the United Kingdom and the European Economic Zone.
According to information shared by Finance Magnates, the payment app will come with the option of a VISA powered debit card – accepted by more than 140 million merchants across the globe. Furthermore users will be able to easily interlink funds between their brokerage wallets and payment app wallets.
To get this right, NAGA has sought out the help of EU based payment service provider, Contis – the very same server provider behind the Binance and Bitpanda crypto debit cards.
“Our first NAGA card offering suffered from technical limitations and did not meet all our customers’ needs. In choosing to work with Contis, we’ve gained a strong and highly experienced partner with a documented track record and industry leadership. Contis brings a proven ability to deliver large-scale payment solutions that enable the advanced conversion of invested assets to fund fiat transactions in real-time at the point of sale.” said Benjamin Bilski, the Chief Executive Officer of NAGA Group.
Though the company still awaits a number of regulatory approvals – expected to happen during the fourth quarter – before going live with the payment app, the brokerage platform has already opened a waiting list for future users.
