Yasin Qureshi Forms New THE NAGA GROUP AG

Yasin Qureshi Forms New THE NAGA GROUP AG

HAMBURG, Germany, October 21, 2015 /PRNewswire/ --

    The FinTech-Start-up takes on out-dated financial system and vows to mobilize the
people

    Yasin Qureshi, founder and CEO of newly formed THE NAGA GROUP AG, Hamburg, has
committed his new organisation to seriously take on, what he calls, a most out-dated
financial system. He expressly included his former own bank, Hamburg-based Varengold Bank
AG, which he built himself from scratch.

    Yasin Qureshi: "We are ready now to offer communities of dynamic and informed people
technology that lets them be more self-determined, quicker and, most of all, mobile.
Investments and banking do need to be more transparent and working for the people. We will
show exactly that."

    Pointing to mobile technology, modern communication, and the growing frustration of
the public with a scandal-stricken banking sector, Qureshi proposes change. Change by
giving professionals, as well as novice traders access to mobile state-of-the-art
financial technology. In short, opening non-transparent and previously inaccessible
markets to higher participation.

    The first app is SwipeStox, a mobile social trading app. At launch, traders will be
offered a demo account with money trading beginning at the end of the year. For this,
Qureshi hooked up with entrepreneur Benjamin Bilski, co-founder of THE NAGA GROUP AG and
Managing Director of the SwipeStox GmbH, Frankfurt. The app is free of charge. It lets the
participating traders invest, as well as copy their successful trades among each other
when trading foreign currencies (Forex), contracts for difference (CFDs), or common market
indices. The trader earns by getting a bonus from SwipeStox for each of his trades that
are being copied, and, of course, for the right investment or copy decision.

    What's so special: The app builds on bringing together a large network of
participating professional traders with casual, novice traders. The in-build feature
geolocation allows traders to quickly find, meet and get to know each other. There are no
charts and press releases to study, it is very fast, and information is transparently
presented. The user can browse between possible trades with a single swipe on his
smartphones' display. Making it, actually, great mobile fun. SwipeStox is now available on
GooglePlay and shortly on the Apple App-Store.

    http://www.thenagagroup.com

    http://www.swipestox.com

    THE NAGA GROUP AG:

    Yasin Sebastian Qureshi, founder and former CEO of Varengold Bank AG, formulated the
idea of an initiative and incubator for disruptive financial technology in 2013. Growing
quickly into a delivering entity, his investment since brought together a global team of
experts building innovative and mobile apps. For professionals as much as for casual
users. Hence, on the 1st of August, 2015, THE NAGA GROUP AG was incorporated. It's
mission: to develop, market and grow disruptive applications in financial technology, all
of which aim to bring change and opening to an out-dated financial system. THE NAGA GROUP
AG currently operates facilities in four countries across Europe (Hamburg, Frankfurt,
London, Nikosia). From product development to design and marketing all of its ventures are
aimed at international communities. THE NAGA GROUP AG holds its own EU Asset Management
licence enabling it to supply its ventures a framework of financial services ranging from
brokerage licensing to legal support. The word "Naga" means "Cobra Snake" in Sanskrit and
it is the name for the hottest chilli in the world.

       
         
        Press and Agency Contact:  
        Tobias Drewling 
        Head of Communication 
        E: tobias@thenagagroup.com  
        M: +49-172-45-122-45 

     

THE NAGA GROUP AG