The founder of Frankfurt-listed brokerage group NAGA has launched a new business – True Trading.
The new company is yet to go live but has built up an active waiting list on a Telegram group.
True Trading was registered in Panama last month, although Bilski himself appears to live in Dubai.
The new platform puts a spin on many of the same features and products that Bilski pushed NAGA to add when he oversaw the company, but focused on the crypto markets.
Traders can access three different products on the True Trading platform – perpetuals, copy trading, and yield products.
Perpetuals have become an increasingly popular product among crypto traders over the last few years. The products work a lot like some non-deliverable gold or FX contracts, with the difference being they are – in theory – exchange-traded.
Traders using perpetuals can get access to higher leverage on different underlying assets.
True Trading runs on Solana
Another key feature of the new platform is that it runs on the Solana blockchain and purports to be decentralised.
The decentralised concept has always been a core part of the crypto industry and ethos, with the general idea being that you are fully in control of your funds and have no intermediaries to stop you from transacting.
In practise, it has often been harder to execute this, for various reasons. For example, trading on an exchange offers better liquidity than a decentralised platform.
Bilski is one of several senior executives from the CFD broker industry to flip into crypto.
Probably the most notable example of this Bybit CEO and Founder Ben Zhou, who worked at XM as the country’s China manager for almost 8 years before starting the crypto giant in 2018.
More recently, Crypto.com has hired several executives from IG Group and other CFD brokers as it pushes to expand globally.
