Category: Company

Turin, 9 May 2023 – Young Platform, the leading Italian cryptocurrency exchange platform, announces the introduction of the new ‘Fiscal Report’ feature, which simplifies the declaration of capital gains and losses by the user, by making the tax declaration document available for download in PDF format in the personal account area.

The report, designed by Young Platform in line with the new regulations, will indicate the value of the user’s wallet, any rewards obtained from staking, income tax, and can be accompanied by a .csv file with the complete list of movements. The Fiscal Report is available on the Young Platform Web version. From June, the new functionality will also be available in France, where Young Platform has been present since 2022.

The Fiscal Report is the first service of its kind offered by an Italian exchange and at the same time compliant with Italian and French tax regulations, allowing users to connect not only their own private wallets such as Metamask, but also other wallet providers, the latter from June 2023. It may also include royalties from NFT or Web3 domains and transaction tracking. The Fiscal Report may thus be a service not only for Young Platform users, but also for any type of professional, company or cryptocurrency investor who needs to declare their assets for tax purposes. 

“Finally, a service that allows both users and professionals to calculate taxes on crypto assets, enabling constant tax planning throughout the year, in a simple and straightforward manner,” comments Alberto Bertagnolio Licio, Chartered Accountant and Senior Partner at Studio Boursier.

Fiscal Report was created in collaboration with Taxtris, a leading provider of tax advisory services for the crypto market, specialising in tax solutions for the cryptocurrency sector. Taxtris has a team of experts in taxation and blockchain technology and thanks to this partnership, Young Platform is now able to offer its users a new, simple and comprehensive solution for accessing cryptocurrencies. 

“It is through simple, life-simplifying tools, such as the Fiscal Report, that such complex technology manages to permeate into the lives of us all. At Young Platform, we strive to equip all our users with the best tools to operate with ease.” – Lorenzo Palombi, Head of Legal & Corporate Affairs at Young Platform.

On the other hand, Italians remain keen on cryptocurrencies and tokens: more than 7 million have already bought them and just as many say they are interested in doing so in the future. The most used method to get hold of these instruments are exchanges (40%) (data ‘Blockchain & Web3: time to build’, report by the Blockchain and Distributed Ledger Observatory of the School of Management of the Politecnico di Milano).

Globally, the crypto market has again surpassed $1 trillion in capitalisation, as of mid-January 2023 (CoinMarketCap data). Despite unfavourable factors influencing a broad industry downturn in 2022, following previous record highs in 2021, cryptocurrency holders equally increased by 39% during 2022, rising from 306 million to 425 million in total (Crypto.com data).

“It is essential to have tools that facilitate the correct tax management of cryptocurrencies in Italy, an increasingly relevant market in the crypto ecosystem on a global scale. In this sense, the solution proposed by Young Platform is an important step forward to simplify and make transparent the taxation of crypto-assets, which facilitates both users and professionals,” – comments Stefano Capaccioli, chartered accountant and founder of Studio Capaccioli and Coinlex.

“Young Platform’s main objective has always been to bring a wide audience closer to the world of cryptocurrencies, building a relationship of trust with its target community and in full compliance with current regulations,” explains Andrea Ferrero, CEO and co-founder of Young Platform. To achieve this goal, it is necessary to make the crypto purchase phase accessible, but also to simplify wallet management, on several levels. This includes functions that ensure full compliance with national and international tax regulations. Fiscal Report is the solution that once again demonstrates Young Platform’s commitment to the correct and transparent management of crypto-assets, a tool that is increasingly understood and appreciated by a growing number of Italians, and not only“.

Turin, 11 April 2023 – Young Platform announces its partnership with Reply to launch the fourth edition of the “Reply Investment Challenge”. Aimed at students and young professionals. The international online competition in 2022 reached record numbers with 13,750 participants from 95 countries, with a total volume of 36,000 transactions carried out.  

The online trading competition will focus this year on a very topical subject: cryptocurrencies. The objective of the Challenge, which will take place from Monday 8 May to Friday 19 May 2023, will in fact be to invest in cryptocurrencies and participants will be asked to implement profitable investment strategies, making tactical choices based on the fluctuations of the crypto market. 

In addition to deepening their trading knowledge, the competition will enable participants to broaden their skills on cryptocurrency market dynamics and blockchain technology through exclusive e-learning content which will be provided by Young Platform and MIP, and made available, in the month before the competition, on the Challenge platform. MIP, which will thus support Young Platform in providing high-level materials for the preparation of the competitors, is the Graduate School of Business of the Politecnico di Milano, active for more than 40 years in the provision of management training programmes for graduates, professionals, companies and institutions.

Participants will have a virtual capital of $1,000,000 to invest in real time in the cryptocurrency market. On 8 May, the participants’ wallets will be credited and the challenge can begin. Participants will be ranked and evaluated according to their investment choices, and only the top three, those who have maximised the most in terms of profit, will win the competition. This year players will also be able to choose between two different interfaces: a simpler and more intuitive one and a more comprehensive and detailed one, respectively Young Platform and Young Platform Pro.

This year’s Reply Investment Challenge will have Young Platform, Italy’s largest regulated cryptocurrency platform, as a partner. Young Platform is a Turin-based scale-up founded in 2018 with the aim of making the cryptocurrency market accessible to everyone. The platform acts as a reference point for those who want to use cryptocurrencies in a simple, transparent and effective way, even without having specific skills in the field. It stands out for its focus on the security and privacy of its users, guaranteeing the use of cutting-edge technology to protect data and transactions. 

There are several reasons why, at Young Platform, compliance with local regulations is the top priority. It is not only a question of ethics and respect for the law, but above all of user protection, which in turn must be the very purpose of financial laws.

Furthermore, we believe that regulation is the key to the mainstream adoption of cryptocurrencies, and that the first step in this direction is the harmony between crypto players and their reference legal system from the outset.

The events of the last year underline this message more than ever: the failures of Terra-Luna and FTX are certainly not the result of virtuous behaviour. While some regulators are particularly alert and wary of cryptocurrencies, the responsibility for proving that there is no reason for this lies with those who work in the industry.

From day one, Young Platform has always put compliance first, with a collaborative attitude towards regulators and law enforcement in defining and controlling a new sector like cryptocurrency in the Italian and French markets. Our Anti-Fraud and Anti-Money Laundering team continues to develop up-to-date solutions to manage the risk of financial crime, with a specialisation in blockchain.

This commitment can be seen, for instance, in the procedure required by law from all exchange users: the Know-Your-Customer, i.e. the Identity Verification managed through specialised providers. 

User protection also concerns the service itself, which is why no cryptocurrency derivatives or other high-risk trading instruments such as leverage are offered on the exchange. In addition to this, all the educational resources necessary to use the service and explore the sector with awareness are provided, both to protect one’s own accounts, to properly guard one’s funds, and above all to avoid scams that exploit the cryptocurrency trend. A section of the official website is also dedicated to frequently asked security questions for users of our products.

Not only that, Young Platform was the first company to be registered with the Italian Organismo Agenti e Mediatori (OAM), an obligation that came into force in January 2022 following an enactment by the Italian Ministry of Economy and Finance.

Also when entering the French market, the first step was to obtain registration as an operator of digital asset services (Prestataire de Services sur Actifs Numériques, or PSAN) under number E2022-60 from the French Financial Markets Authority (AMF).

These practices, unfortunately, are not a given: even basic information such as the registered headquarters is not always known in the industry. In the case of Young Platform, this is public information, available on any page of the official website. Overall, you can find our legal documents.

However, the contribution of exchanges is not enough. The road to mass adoption requires the joining of all forces: if service providers need to be compliant, their customers must use them legally. This scenario requires in turn that governments work on legislation that favours both financial freedom and investor protection.

The partnership between Young Platform, Checkout.com and Visa to bring card withdrawal service from a cryptocurrency exchange to Italy kicks off

Turin, 02/03/2023 – Italy’s leading regulated cryptocurrency exchange Young Platform, in partnership with Checkout.com and Visa, launches a pay-to-card service that will allow its customers to make instant withdrawals from the exchange platform to their credit or debit card. Young Platform thus becomes one of the only two exchanges in Europe able to provide this feature to holders of cryptocurrencies on its platform. This is a major milestone among the services offered by the crypto company, resulting from its partnership with leading players on the global fintech scene.

Checkout.com is the only payment service provider to have created an entirely new infrastructure covering the full payment value chain. Visa Direct‘s recent expansion into Italy will enable consumers to make instant financial transfers to payment cards worldwide.

The joint initiative between Young Platform, Checkout.com and Visa will therefore enable Young Platform customers to use Visa Direct integration for real-time transfers to Visa credit, debit or prepaid cards. This will ensure a secure, simple and accessible customer experience, at a time of significant growth for the real-time payments industry globally. 

According to an international survey conducted by Visa (‘The Crypto Phenomenon: 2022 Consumer Attitudes & Usage’), public awareness of cryptocurrencies remained almost universal between 2021 and 2022, and crypto ownership even increased by 2 percentage points among respondents (to 34%). Motivations driving adoption include- among the others – the desire to participate in a financial and cultural movement And the increased awareness on how to buy and store crypto.  

According to a Visa Study on digital payments trends (https://www.visaitalia.com/visa/sala-stampa-visa/press-releases.3193090.html), the knowledge of cryptocurrencies is widespread (57% of Italians interviewed know cryptocurrencies), with 10% of Italians questioned currently owning them; 13% of the Italians involved in the research are interested in cryptocurrencies, but this rises to 2 out of 10 of those questioned among the very young Gen. Z.

As part of this backdrop, Young Platform aims to develop an entire ecosystem of applications around its exchange, with a single goal since its launch in 2018 – to make cryptocurrencies accessible to all the people who want to use them. Partly as a result of this approach, the young fintech has established itself as one of Italy’s most promising startups, garnering a large community of more than 1 million users and a €16 million first funding round led by Azimut in June 2022. Just six months later, Young Platform was granted certification by the Financial Markets Authority (AMF) in France (Europe’s third-largest crypto market according to Chainalysis). AMF granted Young Platform the Issuer Identification Number (Psan) reserved for financial services providers operating across the Alps.

“Young Platform’s work with digital currencies is based on its mission to create services increasingly tailored to everyday use that give people peace of mind and full freedom in managing their money,” recalls Andrea Ferrero, CEO of Young Platform. For Young Platform and its 2 million customers, pay-to-card represents another step towards opening up this exciting new world to a wider audience, securely and reliably. We are convinced that blockchain technology and cryptocurrencies represent a great opportunity to create a fairer and more sustainable future. We will continue to work with passion and dedication to realise this vision with the help of prominent partners such as Checkout.com and Visa”.

Turin 1st March 2023 – Young Platform is proud to announce a strategic partnership with Freename.io, a leader in Web3 domain services.

Freename.io is an innovative platform that makes it possible to purchase, manage and use Web3 top and second level domains in an advantageous manner, also thanks to the possibility of obtaining royalties. To clarify the difference between top-level and second-level domains, let us take the example of freename.io: the “.io” is the top-level domain (TLD) while “freename” is the second-level domain (SLD). Whenever a new user buys a domain on a given Top Level Domain, the owner of the TLD earns 50 per cent of the value of that domain, effectively becoming a Registrar capable of generating profits. 

From a technical point of view, Freename.io’s Web3 domains are NFTs, non-fungible tokens, compliant with the ERC-721 standard and thus compatible with the entire landscape of existing crypto services and applications. Currently, Freename.io supports the Polygon, Binance, Aurora and Cronos blockchains. 

The integration resulting from this partnership will allow our users to search for a Freename.io domain directly on the Young Platform Web, evaluate its price and decide whether to purchase it. Freename.io domains can be used to send your tokens to a crypto wallet: in fact, the domain contains the information needed to tell the blockchain which wallet to send the tokens to. Therefore, thanks to the integration, it will be possible to send and receive your cryptocurrencies from Young Platform wallets via domains instead of wallet addresses.

Web3 domains are essential for exploring the potential of the Web3. These have numerous functions such as that of a readable and easily shareable wallet address, resolver of traditional websites, domain to create and display a decentralised website and to send blockchain-based emails and messages. Precisely because of these and other functionalities, Web3 domains are used to manage one’s identity on the Web3 and bring together all one’s online profiles in a simple and straightforward tool.

Freename.io fits into this context and aims to make it easier for users to enter the new decentralised phase of the Internet. A mission in line with that of Young Platform, which aims at the dissemination of these topics in order to bring greater awareness.

The blockchain and cryptocurrencies will be the beating heart of Web3, a decentralised, transparent version of the internet that enhances artists and content creators. We are witnessing a real paradigm shift in which all the benefits of blockchain will be applied to the internet in all its aspects, from information sharing, to payments, to virtual socialising opportunities.

Davide Vicini said: “We are delighted to partner with Young Platform, a leading crypto exchange in Europe and at the forefront of the Web3 world. The integration of Web3 domains will allow Young Platform’s customers to be able to use their own domain as a payment address, send and receive Web3 emails and browse the Internet normally with Freename domains.“

Young Platform CEO Andrea Ferrero concluded: “We are happy to welcome Freename.io to our platform, offering our customers the opportunity to buy and exchange Web3 domains. This partnership represents a step forward for us in making the use of cryptocurrencies and Web3 domains more accessible and user-friendly for our users.”

• Young Platform, the leading Italian crypto-exchange, is now fully authorized to operate in France after receiving registration as a digital asset service provider by the French Financial Markets Authority. 
• This milestone recognizes the high quality and security standards that Young Platform upholds. 
• The French crypto ecosystem is one of the most vibrant ecosystems in Europe: French people who own cryptocurrencies (8%) already outnumber those who own shares (6.7%).

Paris – January 4th, 2023  – Young Platform, the leading Italian crypto-exchange, announces it has been registered as a digital asset service provider (prestataire de services sur actifs numériques, or PSAN) under the number E2022-60 by the French Financial Markets Authority. The Autorité des Marchés Financier (AMF) is an independent authority that plays a key role in protecting investors and promoting transparency and stability in French financial markets. With the registration of Young Platform, the AMF confirms the soundness of a model that protects users.

The registration with the French Financial Markets Authority is another major milestone in Young Platform’s ambitious European expansion plan and comes just six months after a €16 million funding round led by Azimut to educate Europe on crypto. Young Platform gathers a growing community of more than one million members and can now kick off its next phase of growth by becoming a key actor in the french crypto ecosystem, one of the most vibrant ecosystems in Europe.

According to a study conducted by consulting firm KPMG on behalf of the Association for the Development of Digital Assets (Adan), nearly 8% of French people own cryptocurrencies, and 30% are considering buying them. This figure is interesting to put into perspective with the number of French people who own shares: about 6.7% of them, according to the AMF. Thus, to date and despite the youth of digital assets, more French people hold cryptos than own shares.

Young Platform aims to simplify access to the world of cryptocurrencies for its users by providing a set of digital products and services that meet different needs according to skill level, from beginner to expert. Young Platform targets a wide audience and promotes an intense educational activity on blockchain technology and virtual currencies through an app as well as dedicated editorial content.

“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,” explains Ambroise Hélaine, Country Manager France at Young Platform. 

“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,” concludes Andrea Ferrero, CEO at Young Platform.

Providing a secure ecosystem for our users 

While doubt & fear stormed the crypto market since last year’s ATH (BTC reached 60K last December), the registration of Young Platform as a digital asset service provider is a badge of honor for the company and a testament to the high standards of Young Platform’s internal processes.

Regulated, transparent, onshore, and/or audited exchanges are seeing a dramatic increase in market share. This is essentially getting back the customers who fled to offshore exchanges for more assets/potentially unregistered securities offered to trade, more leverage and lower fees. Since October, the market share of regulated exchanges has increased by 30 percentage points. The obvious trade here is it will come back to regulated exchanges. 

Growth in dire conditions 

As with the stock market and financial markets, the correction that digital assets are undergoing is furthered by the failure of the major players that served as gateways to the crypto world. Unlike other crypto exchanges, which rely on a portion of their users’ assets to build the much-needed “liquidity pools” to protect the overall user experience, Young Platform adopted, from DAY 1, a philosophy based on user protection:

• A clear separation of company funds from user funds
• Strategic partnership with external providers of real-time crypto-asset liquidity

Young Platform based its first growth stage on this asset, quickly establishing itself as one of Italy’s fastest-growing startups despite tough market conditions on the crypto scene. 

Young Platform wins the ‘Startup of the Year 2022’ award from I3P, the Innovative Companies Incubator of the Politecnico di Torino

Here at Young Platform we ended the year on a high note with an award that we’re really proud of! In December, we received the ‘Startup of the Year 2022′ award during the 23rd edition of the ‘Festa delle Startup I3P’, the annual event of the Incubator of the Politecnico di Torino that celebrates innovative Italian start-ups. 

The Startup Party 

Every year at the ‘Festa delle Startup I3P’, the new companies selected to enter the Politecnico di Torino incubation programme are introduced and awards are presented to the start-ups that have distinguished themselves through their successful journey.

The event was an opportunity to discover innovative products and services ready to conquer the market, and to tell the story of start-ups that took their first steps from the Politecnico di Torino and have proven their value over time. During the ‘Festa’ on 21 December 2022, Young Platform received the ‘Startup of the Year 2022’ award, tied with epiCura, the first digital platform providing home care services. 

Young Platform’s 2022

There are years made for dreaming and planning, others for building, and some for reaping the fruits of one’s labour. In 2022, we at Young Platform expanded and gave our all, we became one of the top three cryptocurrency trading platforms in Italy, with a 36% market share and over a million active users on our products. We launched our YNG token, inaugurated the Clubs and concluded a 16 million euro funding round led by Azimut. Throughout all this, we stayed focused on our goal: facilitating access to the world of cryptocurrencies through simple and clear applications and through intensive educational activities on blockchain technology and its solutions. 

Thank you I3P!

In the course of our history there has always been a fundamental figure who never stopped believing in us. We could not have achieved these milestones without the support that I3P has guaranteed us since 2019, when we joined its incubation programme for fledgling start-ups. 

Last December, Giuseppe Scellato, the president of I3P, commented on our award as follows: ‘Young Platform, with its crypto exchange features, is operating in a sector that is constantly evolving and is thus able to address the new generation of investors.’ and referring also to epiCura: ‘we are proud to have supported these start-ups on their path to growth: our goal is to continue to be a point of reference for innovation in Italy, supporting and promoting ideas and projects with high technological potential that work on services with a direct impact on the lives of citizens’.

Even today, after three years: thank you I3P!

The Startup of the Year award put the fintech sector in the spotlight, once again at Young Platform we raise a glass with our community to going even further together. An unforgettable 2023 awaits us! 

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A partnership between Young Platform and Save the Children kicks off to facilitate crypto donations and help children in Italy and around the world

• The organisation chose the Italian exchange community leader’s platform to open a wallet;
• Users can send Bitcoin, Ether or other cryptos to support Save the Children projects;
• The collaboration will be ongoing and will continue after the Christmas campaign.

Turin, the 21st of December 2022 – Bringing immediate support to where it is most needed, taking advantage of the security and speed of blockchain, helping families and children who, even during Christmas, will have to face hunger and the cold of winter. These are the objectives of the partnership that Young Platform has entered into with Save the Children Italia. This charity is an international organisation that has been fighting for over 100 years to save the lives of girls and boys in order to guarantee them a future. The partnership will enable anyone to use cryptos and donate to the organisation, which is present in over 120 countries worldwide.

Save the Children was the first international organisation ever to accept a Bitcoin donation in 2013. The goal was to raise funds and take action in response to the dramatic aftermath of Typhoon Haiyan that struck south-east Asia, devastating the Philippines. Now, Save the Children Italy has chosen Young Platform to open a wallet, by virtue of the scrupulous regulatory compliance of the Italian exchange community leader (over one million members  in terms of tax issues, anti-money laundering procedures as well as KYC.

To donate, all you need to do is hold a crypto wallet, even on other exchanges. Connect to the appropriate webpage (donaora.savethechildren.it/crypto/), scan the QR Code or copy the address of the Save the Children wallet indicated to send the desired amount of Bitcoin, Ethereum, Ethereum Pow, Tether, Cardano ADA, Polygon, Tezos or USDC. The donation will be converted into fiat currency, to protect the amount from possible crypto market fluctuations. It will then be used to provide protection and immediate aid in areas affected by humanitarian emergencies.

Worldwide, some 774 million children – one third of the world’s child population – experience the dual impact of poverty and climate risk.. Every year globally, 1 million children under the age of five die from malnutrition. Moreover, children living in conflict zones are more than twice as likely to suffer from malnutrition as children living in countries at peace.

Vulnerable children often lack everything, from drinking water to food and psychological support to regain their lost serenity. This is also why the collaboration between Young Platform and Save the Children will continue after the current Christmas campaign, for all crypto collections.

Young Platform reconfirms its commitment to social issues, following its past collaborations with Dynamo Camp, the Italian Red Cross and Helperbit, in similar campaigns. On the other hand, Save the Children is increasingly looking to the Web3 community, having launched the #CryptoArt4Children project last spring to donate the proceeds from the sale of NFT works created by crypto-artists to support children and families affected by the conflict in Ukraine.

“Blockchain is unfortunately still a technology that is often misunderstood on many levels. However, leaders and vanguards throughout the world, such as Save the Children among other organisations, have immediately understood its potential for the best purposes,” explains Andrea Ferrero, CEO of Young Platform. With this partnership we are happy to be able to do our part by providing the means and technological support to anyone who wants to use cryptocurrencies to make a donation and help children in areas facing humanitarian crises due to conflict, extreme weather events or an economic crisis For this reason, we at Young Platform do not want to limit ourselves to an occasional initiative. We will stay ‘in the field’ together with Save the Children, hoping that this will be the beginning of a long collaboration between our two organisations. .

“Save the Children has always been an organisation open to change, looking for new ways to respond to the needs of children,” – says Lorenzo Catapano, head of Innovation, Digital Technology & Data at Save the Children Italia – “We think that at the stage Web3 is at today, understanding and experiencing it is the best way to be part of it.  We decided to do this together with Young Platform, an Italian business extremely attentive to young people and to the positive impact of new technologies. On the occasion of Christmas we want to invite the Young community to be at the side of children, to build a better future for them.”

“FTX never passed Young Platform’s due diligence checks and we have never had any dependence on FTX. AUM are safe,” guarantees Italy’s largest exchange

The crisis affecting the FTX exchange was triggered by revelations concerning the balance sheet of Alameda, a company founded by CEO Sam Bankman-Fried

Turin, the 10th of November 2022 – The liquidity crisis that hit the FTX exchange, one of the largest in the world, has caused an earthquake in the cryptocurrency sector. However, it is one of a different nature than the collapse of LUNA at the beginning of the year. It is related to the particular condition of the companies FTX and Alameda Research.

The management model represented by Young Platform, Italy’s leading exchange community, differs markedly from what emerged from press reports concerning FTX and Alameda. This can be traced back to the managerial activities of Sam Bankman-Fried, founder and CEO of FTX as well as founder of Alameda. The latter company was dedicated to hedge fund and trading activities, and was also previously administered by Sam Bankman-Fried.

“FTX never passed Young Platform’s due diligence checks and we never had any dependence on FTX, so our clients’ Assets under management are safe. Moreover, the FTT token was not even listed on our platform, which means that no Young Platform client has lost money in connection with the FTX affair,” assures Mariano Carozzi, president of the Italian cryptocurrency trading platform, which has over one and a half million members.

FTX and Alameda Research were not as separate as advertised, according to news site CoinDesk, who had learned about Alameda’s balance sheet, causing solvency doubts to arise. This revealed that Alameda’s main asset was the FTX exchange’s token FTT, worth about $3.86 billion out of $14.6 billion in total assets.

Not only that, but the third largest asset was USD 2.16 billion of ‘FTT collateral’. This is therefore a huge component of the balance sheet, but what matters more is the quality of the asset. Not only did half of the balance sheet come from their own centralised entity, but it was linked to an illiquid token whose intrinsic value is almost impossible to calculate. Moreover, in the last period, the exchange had been active in acquiring companies in crisis. So, the balance sheet shows the consequences of these purchases, which may have been economically advantageous but financially very demanding.

“Young’s economic situation is very different, we have recently strengthened our capital endowment with a significant capital increase underwritten by leading Italian institutions, the working group and our business organisation. Moreover, we have never been attracted by financial transactions that, even if advantageous, were nevertheless risky”. This was highlighted by Andrea Ferrero, CEO of Young Platform, referring to the financing round led by Azimut in June and in which a pool of investors participated, including Banca Sella and United Ventures.

Young Platform represents a principled model for managing cryptocurrencies in a secure manner that is beneficial to customers and the company itself. The platform’s goal is to provide access to state-of-the-art crypto products while maintaining a conservative approach to business operations, security and financial resilience. This approach is also embodied in our choice of excellent partners, even at this difficult time for the market, such as our industry-leading custody service Fireblocks.”“Bitcoin is experiencing a moment of high volatility in the short term, but as an asset it does not change its intrinsic value and this makes us confident, despite everything,‘ Carozzi concludes. ‘In addition to the turbulence and inflation of the period, our industry has to deal with regulatory and normative uncertainties that still need to be remedied by institutions, in order to reward quality operators. The great virtue of cryptocurrencies so far has been their ability to learn from their mistakes and strengthen themselves accordingly. We believe that the best players will be rewarded in any regulatory and market environment’.