19 November 2017
visit www.aciworldwide.com

Deutsche Börse partners Naga Group to build gaming marketplace

01 December 2016  |  5035 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  |  8911 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  |  7534 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  |  5859 views  |  0 comments | 12 tweets | 2 linkedin
Deutsche Bourse sets up fintech venture fund

Deutsche Bourse sets up fintech venture fund

21 June 2016  |  7363 views  |  0 comments | 16 tweets | 6 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.aciworldwide.comvisit www.solutions.lexisnexis.comvisit www.vasco.com

Top topics

Most viewed Most shared
Ripple boss predicts central bank adoption of blockchainRipple boss predicts central bank adoption...
13546 views comments | 21 tweets | 21 linkedin
Singapore central bank open sources blockchain prototypesSingapore central bank open sources blockc...
11858 views comments | 15 tweets | 28 linkedin
Digital receipt startup Flux scores game-changing deal with BarclaysDigital receipt startup Flux scores game-c...
9960 views comments | 20 tweets | 36 linkedin
AmEx partners Ripple and Santander for blockchain-enabled cross-border paymentsAmEx partners Ripple and Santander for blo...
9540 views comments | 13 tweets | 39 linkedin
UK cryptocurrency exchange startup launches debit card for spending bitcoinUK cryptocurrency exchange startup launche...
8031 views comments | 26 tweets | 37 linkedin

Featured job

Competitive base, commission, benefits
London, UK

Find your next job