As Naga expanded into new fintech verticals, the German company has onboarded Stelios Eleftheriou as the Managing Director of NAGA Pay and NAGA X. The first is the payments wing of the group, whereas the other is a licensed crypto investing platform.
“I’m happy to share that I have started a new position at NAGA,” Eleftheriou wrote in a Linkedin post. “I’m humbled by the trust, grateful and excited for the opportunity!”
He is based in Cyprus and has joined the publicly-listed copy trading giant from Parimatch Cyprus, an entertainment and betting industry technology service provider where he was the Chief Executive Officer for five years.
Additionally, Eleftheriou has long ties with the retail trading industry. He was the CEO of BullBinary for a couple of years, following his tenure at OptionTrade brand, where he joined as the Head of Business Development and parted as the Head of Operations and Business Development.
Further, he headed business development, marketing and customer support at FX Global Markets (FXGM) for three years, from March 2011 to March 2014.
An Aggressively Growing Trading Company
Meanwhile, NAGA is expanding aggressively in the industry as demand for its services skyrocketed in the past quarters. Originally known for providing copy trading services, the group launched its payments services in November 2021 and dived into the crypto market earlier this year with a Europe-regulated platform.
The company has high hopes for its crypto business, but now it is to be seen how it prepares for the crash in cryptocurrency prices. Earlier this year, the company gained an Estonian crypto license and is expected to gain two more crypto asset service provider licenses.
Furthermore, the revenue of the Hamburg-headquartered company was hitting records for multiple consecutive quarters. It ended the first quarter of 2022 with a 63 percent jump in its revenue.
