Young Platform launches its B2B services, expanding access to cryptocurrencies for businesses
Italy’s leading cryptocurrency scaleup unveils new platform features created to improve conversion, account management and trading for companies and financial institutions
TURIN, 20 September 2023 – Young Platform, the Italian cryptocurrency scaleup, announces the launch of new platform services dedicated to the business market. The decision to open up for the first time to corporate customers represents an unprecedented and significant step in the mission of the crypto-company, already Italy’s leading exchange community with over 2 million members among the consumer public, which has always been committed to making blockchain technology and cryptocurrencies accessible to people and now also to businesses and institutions.
Over the past two years, an increasing number of businesses and institutions have begun to recognise crypto, specifically Bitcoin, not only as an investment asset, but also as a fundamental transaction tool for the digital age. It is also for this reason that Young Platform has designed three innovative services aimed at the specific needs of companies that want to get closer to this world and the crypto user audience, providing tailor-made solutions to improve operational efficiency and financial management.
One of the main new services offered to the business world is Euro Only, for receiving cryptocurrencies without being exposed to the uncertainty of market volatility. This is made possible by the instant conversion into euros, which provides adequate protection from fluctuating cryptocurrency prices. Business management is also simplified by the Sub Account service, which offers companies the possibility of creating several accounts from one Master Account.
Young Platform also offers an OTC (Over The Counter) service, a secure and customised option for cryptocurrency trading. This functionality provides companies with access to instant liquidity and competitive pricing, enabling efficient and convenient trading.
The integration of all these services is supported by ‘tailor-made’ professional training programmes designed to help companies develop in-house skills that are crucial for successfully implementing blockchain technology solutions in different business models.
According to a 2023 report by CoinDesk, the number of financial institutions investing in cryptocurrencies has doubled since 2021. Large companies such as Tesla, Square and MicroStrategy have led the way, investing billions of dollars in Bitcoin. Meanwhile, agencies such as JP Morgan and Goldman Sachs have introduced cryptocurrency services to meet the demand of their clients. Even in the retail sector, companies such as Starbucks and Amazon have begun accepting payments in cryptocurrencies, signalling a wide acceptance of the industry’s assets.
Research conducted by Coinbase and The Block (The State of Crypto: corporate adoption, June 2023) revealed that more than half (52%) of the world’s largest and most successful US Fortune 100 companies have undertaken crypto, blockchain or web3 initiatives since early 2020. About 60 per cent of the Fortune 100 initiatives reported since the beginning of 2022 are in the pre-launch phase or already launched. Looking ahead, 83% of US Fortune 500 executives surveyed who are familiar with cryptocurrency or blockchain say their companies have initiatives underway or are planning on them. About two-thirds (64 per cent) say investing in these technologies is important to stay ahead of the competition. These companies innovate and invest in these technologies because they know that the financial system needs an upgrade and that blockchain can be a solution.
Merchants and businesses accept Bitcoin as a form of payment and the infrastructure is increasingly user friendly, for the average user, thanks to the development of wallets, exchanges and marketplaces that have removed the technical barriers present in the early years of crypto. Private companies hold $11.1 billion worth of Bitcoin, about one-fifth of the $50 billion held in Etf, states and public and private companies, according to a VanEck report (The Investment Case for Bitcoin, September 2023).
Entering the world of cryptocurrencies offers companies the opportunity to access a new group of digital native consumers, improve payment efficiency and hedge against inflation. In addition, adopting cryptocurrencies allows companies to participate in the decentralised finance revolution, giving them the opportunity to leverage new business models and innovative technologies.
“We are proud to be able to extend the financial democracy of the crypto world to businesses and institutions. This represents a crucial step towards our vision of a future where cryptocurrencies are accessible to all, says Andrea Ferrero, CEO and co-founder of Young Platform.
“The world of cryptocurrencies can open many doors for businesses and institutions. Thanks to Young Platform, you can now explore these opportunities in a secure, transparent and compliant manner. We are committed to guiding our customers through an ever-evolving financial world by providing innovative tools and unparalleled support,” comments Mariano Carozzi, Chairman of Young Platform.
With its ever-expanding offering, Young Platform continues its commitment to adoption to an ever-widening audience.
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