Naga, ONTology To Build blockchain Infrastructure For Financial Markets
Ontology (ONT), a public blockchain network, and Naga (NGC) Group, a publicly listed German FinTech company, have entered into a long-term strategic partnership to bring about a significant change in the business operation and provide the high performance infrastructure to the financial technology markets.
Both companies together will work towards building a new generation of public blockchain infrastructure that will support real business applications. By exploring application development, incubation, and outreach, the blockchain giants aim to achieve their objective.
Ontology’s high-performance public blockchains include a series of complete distributed ledger and smart contract systems. Ontology also supports the creation of different kinds of distributed applications by providing common modules on the upper layer. The range of applications supported by Ontology includes distributed digital identity framework (ONTO), distributed credible data (ONT Scores), distributed data exchange protocols (ONT DDXF), etc.
NAGA aims at building the best industry-leading financial products. Ontology focuses on identity, trust, authorization, and data exchange. The range of industries targeted by Ontology are insurance, medicine, and projects related to government. This makes it best suited to provide greater trust and efficiency within NAGA’s ecosystem.
Ontology Founder Jun Li said
“We are happy to welcome NAGA to build up the application ecosystem through wielding Ontology’s next-generation public chain infrastructure. The NAGA Group AG (N4G) is a leading publicly listed German fintech firm, backed by Fosun Group and the German Stock Exchange (Deutsche Börse AG). We feel confident that together we can open up the international market, expand the Ontology ecosystem, and advance global blockchain development.”
NAGA Founder and Executive Director Yasin Sebastian Quresh said
“We think that this partnership can really change the way crypto companies act and execute their promises. Our and Ontology’s precision and hard-working ethos will help us to not only deliver products ahead of the roadmap, but to also make them more reliable and more valuable for the whole community.”
NAGA Founder and Executive Director Benjamin Bilski said
“We are super excited about the Ontology project and we are eager to announce new developments in cooperation with the platform. We believe that it will help to boost and grow our business exponentially.”
About Naga Group
Founded in 2015, NAGA Group, which focuses on financial markets, cryptocurrencies, and virtual goods, went public in 2017. It then raised more than $50m in one of the world’s largest ICOs, just a few months after the company’s debut on the Frankfurt Stock Exchange. The company has a market cap greater than €250 million. The NAGA Group AG is backed by China’s largest private multi-hundred-billion investment company, FOSUN Group, Germany’s second oldest bank, Hauck & Aufhaeuser (founded 1796) and the German Stock Exchange (Deutsche Börse AG).
The regulated investment firm runs scalable trading platforms for both fiat and cryptocurrencies and has a trading volume exceeding €5 billion per month. NAGA, established on a top legal setup, owns various EU-financial licenses, including an asset management license. NAGA bridges equity and cryptocurrency market through blockchain technology. Users can fund their trading accounts with Bitcoin, trade an Apple Stock, load their NAGA CARD, transfer trading profits to the virtual item exchange Switex, and ultimately withdraw fiat or hold any other major cryptocurrencies and all ERC20 tokens.
Ontology is a distributed trust collaboration platform and a high-performance public blockchain project. Ontology blockchain framework supports public blockchain systems and is able to customize different public blockchains for different applications. Ontology supports collaboration amongst chain networks with its various protocol groups.