Through NAGAX, NAGA Pay offers Crypto Asset Services

NAGA Pay, an innovative company in the field of digital finance, which offers one of the most advanced payment and investment applications, is pleased to announce that through NAGAX, a Crypto Asset Service Provider (CASP) regulated by the Cyprus Securities and Exchange Commission under Registration No. 009/23, is authorised to offer cryptocurrency wallet services.

This authorisation establishes NAGA Pay as a reliable provider of cryptocurrency services, strengthening the company's commitment to providing secure and smooth digital transactions for all its clients.

This approval represents a significant milestone in NAGA Pay's journey towards becoming a comprehensive financial services provider in the rapidly changing digital economy, offering a wide range of cryptocurrency-related services within a regulatory framework that ensures maximum security and investor protection.

Stelios Eleftheriou, Managing Director of NAGA Pay, stated: "I am delighted to announce today an exceptional development for NAGA Pay. Through NAGAX, we have achieved the registration as a Crypto Asset Service Provider (CASP) through the Cyprus Securities and Exchange Commission (CySEC). This news reflects the dedicated work and efforts of our team to achieve regulation and compliance in the cryptocurrency industry.

I would like to commend the Cyprus Securities and Exchange Commission for their relentless efforts in regulating the cryptocurrency market. Our close collaboration and their determination to ensure the safety and protection of our investors have been essential in obtaining this license.

This development opens new horizons for us as a company. We can now offer a wide range of services within a modern regulatory framework."

NAGA Pay, through NAGAX, will have the right to offer its services throughout the European Economic Area, where authorisation covers the following crypto-assets services and financial services related to crypto-assets:

● Exchange between crypto-assets and fiat currencies.

● Exchange between crypto-assets.

● Management, transfer, transportation, custody, and/or safekeeping of crypto-assets or cryptographic keys or means allowing control over crypto-assets.

● Offering and/or sale of crypto-assets, including the initial offering.

● Participation and/or provision of financial services related to the distribution, offering, and/or sale of crypto-assets, including initial offerings.

● Reception Transmission of Orders.

● Execution of orders on behalf of clients.

● Portfolio management.

● Provision of Investment Advice.

● Underwriting and/or placement of crypto-assets with firm commitment

● Placement of crypto-assets without firm commitment.

Revolution in crypto transactions with the reliability of VISA

With NAGA Pay, the users gain access to an innovative online banking application on their mobile device, enabling them to fully utilise their cryptocurrencies for payments, money transfers, remittances and investments.

The holder of the NAGA Pay card essentially possesses a free Crypto Visa Card (with free IBAN and no annual fees) that offers a wide range of functionalities, including spending cryptocurrencies and fiat currencies at any VISA-accepting merchant worldwide. The holder can also buy Euros with cryptocurrencies, withdraw money from any ATM in any country from his cryptocurrency account, and make payments with crypto even if the account has zero balance in Euros.

The user has the ability to use Bitcoin, Ethereum, Stablecoins, and 20+ types of cryptocurrencies online or offline at any store of their choice or at ATMs.

With NAGA Pay, users may receive up to 3% cashback in Bitcoin, as well as benefit from instant discounts from many merchants that participate in the NAGA Pay Preferred Merchants program!

Disclaimer: Investing in cryptocurrencies involves substantial risk and they might not be suitable for everyone, while they are highly volatile assets and their values can fluctuate significantly within short periods.