German based FinTech company NAGA is marketing its latest addition to Blockchain technology: a debit card just as accessible as one from a traditional bank.
Future NAGA Debit Card holders will be able to use their NAGA card internationally, in any establishment MasterCard is accepted. Funding of the card is straightforward, and can be done through all of the traditional methods. The added benefit of the NAGA debit card is the ability to fund the account with multiple cryptocurrencies, including the NAGA Coin.
As part of the ongoing push to expand NAGA’s Ecosystem, the company’s newly developed debit card will soon become fully integrated into all of NAGA’s platforms. Users of NAGA TRADER (formerly SwipeStox), the firm’s social trading platform, will be able to transfer their stock market profits directly to the NAGA Debit Card and spend their currency on “real-world” purchases. This creates a hassle free experience for the card user, who can spend any potential online gains without the need to exchange it for traditional currency.
Users of Switex, the company’s soon to be launched gaming platform, will similarly be able to transfer their in-game profits into cash that can be spent internationally both on and offline. Those who register for the NAGA debit card will soon be able to fund their card directly from their wallets. NAGA’s well established online reputation preceded them, with 35% of debit cards claimed during the first day of pre-registration.
The NAGA Debit Card has the unique appeal of compatibility with all of the major cryptocurrencies. However, perhaps the feature that those already familiar with NAGA will be anticipating the most is the incorporation of NAGA’s utility token, the NAGA Coin (NGC) that streamlines the usage of NGC across platforms. 2017 saw NAGA complete one of the most successful token sales on the market. This firm support from participants indicates NGC compatibility as a popular feature of the debit card.
NAGA is pushing for NGC as the main unit of account on all affiliated platforms. Users of the NAGA Coin on NAGA TRADER and Switex will get reduced commissions and other benefits on both platforms. Alongside this, NAGA plans to make transfers of NGC from any NAGA platform to the NAGA Debit Card particularly efficient.
The NAGA debit card sets a competitive standard for similar FinTech companies to follow. Currently, there are few highly rated debit cards compatible with multiple forms of cryptocurrency, with most settling for offering account holders just BTC holdings. NAGA’s debit card goes further in challenging the void between crypto and fiat currency than any previous attempt has.
With only 10,000 debit cards available for pre-registration on a first come first served basis, NAGA has successfully created a buzz around their latest innovation.
NAGA has high anticipations for 2018 with a firm goal of expanding their ecosystem and increasing name recognition. Their offering to clients in exchange for this is their NAGA debit card, an innovation that provides practicality for the user alongside adept blockchain technology.
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