Six months after raising €16M, Italian crypto exchange Young Platform secures French licence

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

The Autorité des Marchés Financiers (AMF) is an independent organisation that is crucial to defending investors and fostering stability and transparency in the French financial markets. And Young Platform’s registration by the AMF verifies the validity of a user protection model.

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

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

Brief 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 do that, it offers a variety of digital products and services that cater to their various demands depending on their degree of expertise, from beginner to expert.

Besides, the company also supports a thorough educational activity on blockchain technology and virtual currencies through an app and specialised editorial content.

Ambroise Hélaine, Country Manager France at Young Platform, explains, “Beyond simple cryptocurrency conversion, Young Platform’s mission is to convert the complex technical concepts developed by a handful of talented developers into simple mechanics accessible to the greatest number of people. Indeed, we fully believe that the enabler of this market is not technological but educational. Our ecosystem of applications allows users to progress at their own pace to make informed investment decisions.”

Growth during tough conditions

This license registration for Young Platform comes at a time when there is uncertainty and panic in the crypto market. 

In contrast to other cryptocurrency exchanges, which rely on a part of user assets to create the crucial “liquidity pools” to safeguard the overall user experience, Young Platform says it established a philosophy centred on consumer protection: “A clear separation of company funds from user funds; and strategic partnership with external providers of real-time crypto-asset liquidity.” The Italian company says it based its initial growth stage on this asset, swiftly establishing itself as one of Italy’s fastest-growing firms.