26 February 2017
Visit EBAday.com

Deutsche Börse partners Naga Group to build gaming marketplace

01 December 2016  |  4034 views  |  0 deutsche borse

Deutsche Börse is to create a new marketplace for trading virtual gaming products in partnership with local fintech incubation vehicle Naga.

The two companies have set up a joint venture firm, Switex, to provide a platform for the exchange and trade of in-game items. DB will hold a mintory stake in the venture.

The in-game items market is estimated to be worth over $46 billion a year and has seen steady annual growth of over ten percent in the recent past. But at the moment there are few opportunities for players to legally trade game items.

Yasin Qureshi, CEO Naga Group and CEO Switex, says: “We believe that there is a great demand in the gaming community to trade in game items in a fair, secure and legal environment. We will give gamers the chance to monetize the values they have earned through their skills and efforts.”

The German exchange group has talked up the value of collaborating with fintech firms on new ventures, setting up a venture fund in June and promising to create new opportunities for startups to leverage off its professional expertise as a market infrastructure provider.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Deutsche Bundesbank and Deutsche Börse test blockchain tech for securities settlement

Deutsche Bundesbank and Deutsche Börse test blockchain tech for securities settlement

28 November 2016  |  7631 views  |  0 comments | 15 tweets | 23 linkedin
Deutsche Börse looks to tap PSD2 potential with figo stake

Deutsche Börse looks to tap PSD2 potential with figo stake

23 November 2016  |  6612 views  |  0 comments | 11 tweets | 12 linkedin
European Fintech Alliance has first outing at Deutsche Bourse

European Fintech Alliance has first outing at Deutsche Bourse

18 October 2016  |  5091 views  |  0 comments | 12 tweets | 2 linkedin
Deutsche Bourse sets up fintech venture fund

Deutsche Bourse sets up fintech venture fund

21 June 2016  |  6519 views  |  0 comments | 16 tweets | 6 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit BNP paribas

Who is commenting?

Top topics

Most viewed Most shared
EBA to relax controversial PSD2 authentication rulesEBA to relax controversial PSD2 authentica...
13074 views comments | 52 tweets | 74 linkedin
RBS to become fintech fund and high street outlet for challenger banks under HMT remedyRBS to become fintech fund and high street...
8683 views comments | 40 tweets | 34 linkedin
BNY Mellon seeks blockchain experts for new emerging biz and tech teamBNY Mellon seeks blockchain experts for ne...
7190 views comments | 7 tweets | 4 linkedin
High rate of defaults hit P2P lending sectorHigh rate of defaults hit P2P lending sect...
6952 views comments | 19 tweets | 13 linkedin
hands typing furiouslyBlockchain Technology
6881 views 1 | 18 tweets | 7 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job