Six months after raising €16 million, Italian crypto exchange Young Platform secures French license

Co-Founder of Young Platform | Photo credit: Young platform

Turin-based Young Platform, a cryptocurrency exchange company, announced on Wednesday, January 4 that it has received a digital asset service provider license from the French Financial Markets Authority (Autorité des Marchés Financier) to operate in France.

The Autorité des Marchés Financiers (AMF) is an independent organization vital in protecting investors and promoting stability and transparency in the French financial markets. And the registration of Young Platform with the AMF confirms the validity of a user protection model.

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Young Platform CEO and co-founder Andrea Ferrero says, “Young Platform’s expansion into Europe is an important step in the company’s growth and represents a new opportunity for anyone interested in the crypto market to access Young’s innovative solutions to get platform. We are excited about this important milestone and look forward to expanding our services and offering them to an even wider audience.”

The development comes just six months after the Italian company raised €16 million in funding led by Azimut to raise awareness of cryptocurrencies across Europe.

Briefly about Young Platform

Young Platform was founded in 2018 by Alexandru Stefan Gheban, Andrea Carollo, Andrea Ferrero, Daniele Rinaldi, Marco Ciarmoli and Samuele Raimondo. The company’s goal is to make it easier for its users to access the world of cryptocurrencies. To this end, it offers various digital products and services that meet the different requirements of beginners to experts, depending on their level of knowledge.

Also, the company supports an in-depth educational activity on blockchain technology and virtual currencies through an app and specialized editorial content.

Ambroise Hélaine, Country Manager France at Young Platform, explains: “Beyond the simple conversion of cryptocurrencies, Young Platform’s mission is to transform the complex technical concepts created by a handful of talented developers into simple mechanisms that can be used for the accessible to as many people as possible. In fact, we firmly believe that the enabler of this market is not technological, but educational. Our ecosystem of applications allows users to move forward at their own pace to make informed investment decisions.”

Growth under difficult conditions

This Young Platform license registration comes at a time of uncertainty and panic in the crypto market.

Unlike other cryptocurrency exchanges that rely on a portion of user assets to create the crucial “pools of liquidity” to protect the overall user experience, Young Platform says it has established a philosophy focused on consumer protection: “A clear separation from company funds from user funds; and strategic partnership with third-party providers of real-time crypto asset liquidity.” The Italian company says it built its initial growth phase on this asset and quickly established itself as one of Italy’s fastest-growing companies.

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