Tag: enterprises

Young Platform presenta Bot Only Euro (BOE), un servizio innovativo pensato per le aziende che vogliono accettare pagamenti in criptovalute senza affrontare le complessità di gestione. Con BOE, le criptovalute ricevute vengono convertite automaticamente in euro, semplificando la contabilità e minimizzando i rischi legati alla volatilità.

La crescita dei pagamenti digitali e internazionali

L’Europa si conferma leader mondiale per il volume complessivo delle transazioni B2B digitali, trainata dall’adozione di tecnologie avanzate nei pagamenti internazionali. Tuttavia, i sistemi bancari tradizionali spesso non sono all’altezza delle esigenze di rapidità e costo.

Le blockchain per i pagamenti cross-border offrono un’alternativa straordinariamente conveniente, con costi fino a 5.000 volte inferiori rispetto ai metodi tradizionali e velocità fino a 432.000 volte superiore. L’uso delle stablecoin, valute digitali ancorate al valore di monete tradizionali come l’euro, garantisce inoltre stabilità e sicurezza, eliminando la volatilità delle criptovalute classiche.

Perché le stablecoin sono cruciali?

Le stablecoin si distinguono dalle altre criptovalute per la loro stabilità. Ad esempio, 1 USDC equivale sempre a 1 dollaro, mentre altre stablecoin replicano il valore dell’euro. Sono ideali per i pagamenti internazionali, rendendo le transazioni più economiche, veloci e trasparenti. Questo le rende perfette per:

• Pagamenti transfrontalieri senza costi elevati o ritardi bancari.
• Commerci internazionali, dove i tassi di cambio sfavorevoli possono essere un ostacolo.
• Pagamenti in crypto per acquisti di NFT, royalty o servizi digitali.

Bot Only Euro: converti crypto in Euro in automatico

Accettare pagamenti in crypto rappresenta un’opportunità unica per aziende di ogni settore, soprattutto in ambiti come l’import-export, dove le criptovalute possono superare le inefficienze dei sistemi bancari tradizionali.

Il servizio BOE di Young Platform rende tutto questo più semplice:

• Conversione automatica: ogni pagamento ricevuto in criptovalute viene convertito in euro al tasso di mercato in tempo reale.
• Flessibilità: le aziende possono selezionare quali criptovalute convertire o mantenerle nel proprio wallet.
• Stabilità fiscale: grazie alla conversione immediata, non si generano plusvalenze o minusvalenze, evitando così implicazioni fiscali aggiuntive.
• Operatività semplificata: niente più operazioni manuali di vendita crypto.

Pagamenti Blockchain e velocità con i Layer 2

Grazie ai Layer 2, come Lightning Network, i pagamenti in blockchain diventano ancora più rapidi e scalabili. Questi sistemi sono ideali per:

• Rimesse internazionali con costi minimi.
• Pagamenti B2B cross-border, garantendo sicurezza e scalabilità.
• Micro-pagamenti globali, dove la velocità è essenziale.

I pagamenti su blockchain garantiscono inoltre tracciabilità, trasparenza e un livello di sicurezza che supera i sistemi bancari tradizionali.

L’Importanza del BOE per le Aziende

Sono numerosi i business a cui è dedicato il Bot Only Euro, pensiamo solo all’import-export. Accettare Bitcoin e altre valute virtuali, infatti, può rendere più convenienti i commerci con l’estero. Se ad esempio un’azienda partner ha la sede in un paese extraeuropeo, in cui la valuta ha un tasso di cambio sconveniente, oppure il cui sistema bancario è poco efficiente, il pagamento su blockchain permette di aggirare questi ostacoli.

Le aziende che scelgono di accettare pagamenti in criptovalute possono trarre numerosi vantaggi:

1. Accesso a un mercato in crescita: l’adozione delle crypto come metodo di pagamento è in continua espansione, spinta dalla domanda dei clienti.
2. Efficienza nei pagamenti internazionali: superare i limiti dei circuiti bancari tradizionali, soprattutto in paesi con sistemi finanziari poco performanti.
3. Supporto alle innovazioni del Web3: come gli NFT, che rappresentano una nuova frontiera di entrate e identità digitale.

Scopri tutti i servizi B2B

Il caso degli NFT

Nel 2020 è esploso il trend dei Non Fungible Token, oggetti digitali basati su blockchain che possono rappresentare opere d’arte, oggetti collezionabili o certificati. Così molti brand e artisti hanno iniziato a creare la propria collezione: dalle case di moda, ai cantanti, ai videogiochi, questi token sono diventati un must per la brand identity dei marchi.

Gli NFT nella maggior parte dei casi vengono acquistati con criptovalute, che vanno all’autore, ossia in questo caso all’azienda o all’artista. Inoltre, possono generare royalty, in quanto garantiscono il diritto d’autore su blockchain e il relativo compenso per l’utilizzo dell’opera.

Di conseguenza, qualunque società che abbia emesso uno o più NFT, potrebbe ricevere pagamenti ed entrate in criptovalute.

Come attivare il Bot Only Euro?

Attivare il servizio BOE è semplice. Per iniziare, è necessario aprire un Account Business su Young Platform, che permette alle aziende di:

• Ricevere criptovalute direttamente nel wallet aziendale.
• Convertirle automaticamente in euro, semplificando la gestione della liquidità.

Per ricevere pagamenti in criptovalute sull’account Young Platform, qualunque società può semplicemente condividere il suo indirizzo del wallet al cliente. 

Contatta il team dedicato ai servizi per le imprese per scoprire tutti i vantaggi e attivare Bot Only Euro. Scrivi a [email protected] e inizia subito a trasformare i pagamenti in crypto in un’opportunità per il tuo business!

VIsita la pagina dedicata alle aziende

Argomenti correlati

• Pagamenti internazionali B2B: la soluzione è su blockchain
• OTC Desk: cos’è e come funziona
• Cosa sono i Sub Account e a cosa servono?
• Bitcoin per la tesoreria aziendale

Blockchain payments are up to 5,000 times cheaper and 432,000 times faster than traditional bank transfers, revolutionising international transactions.

International B2B payments are undergoing a profound digital transformation driven by businesses of all sizes increasing adoption of innovative technologies. In 2023, the total volume of these transactions reached $39.3 trillion, with a projected compound annual growth rate (CAGR) of 11.4% between 2023 and 2028.

According to a survey by the Capgemini Research Institute, Europe remains the global leader in total digital B2B transaction volume, while the Asia-Pacific region significantly contributes to the sector’s international expansion. This growth is closely tied to the rise of B2B online marketplaces, which surpassed 750 platforms worldwide in 2023 and are expected to reach 1,000 by 2025. By 2030, these marketplaces’ gross merchandise value (GMV) could hit $26 trillion.

While globalisation initially drove growth in the B2B payments sector, the real breakthrough has occurred in recent years, particularly in the aftermath of the pandemic. The surge in digital transactions has pushed many businesses towards B2B e-commerce, fundamentally reshaping the commercial landscape.

The meaning of B2B

B2B (business-to-business) refers to transactions, relationships, or commercial exchanges between two businesses rather than between a business and an end consumer. This model is widely adopted across various industries, including wholesale trade, professional services, and digital B2B platforms.

In essence, B2B encompasses direct interactions between businesses, focusing on providing products, services, or solutions that support business operations and growth.

Use cases for international B2B payments.

Businesses frequently need to make cross-border payments in a range of scenarios, including:

• B2B E-commerce
• Import and export activities
• Software subscriptions (SaaS)
• Salaries for international employees
• Corporate trading and investment
• Repatriation of funds and treasury flows (for multinational corporations)

However, traditional payment methods face significant challenges in costs and processing times, which can directly impact cash flow and business growth.

FinTech Innovation and Blockchain

In response to these challenges, FinTech companies, such as Young Platform, are driving advancements in instant payment technology. This is particularly critical given that only 13% of European banks have robust infrastructure to support fast payments.

Collaboration with FinTech providers enables businesses and banks to accelerate processes across several market segments:

• B2B (Business to Business): Transactions between businesses.
• B2C (Business to Consumer): Payments from firms to consumers.
• C2B (Consumer to Business): Payments from consumers to businesses.
• P2P (Peer to Peer): Direct transfers between individuals.

According to a survey conducted by Capgemini Research Institute, 21% of banks interviewed globally prefer to collaborate with existing FinTech companies to leverage their expertise and technology. Relying on external solutions instead of developing internal systems reduces costs and time to market, enabling the development of scalable solutions for a wide variety of targets.

Explore our B2B services

Costs are a critical issue in international payments

High costs of traditional methods

Traditional payment methods, such as international bank transfers, credit card networks, and wire transfers (SWIFT or SEPA), continue to incur significant costs, directly impacting the affordability and efficiency of cross-border transactions.

• High Fees: Credit card transactions cost between 2% and 4% for international payments, while bank transfers often include hidden fees due to the complexity of global networks.
• Currency Conversion Costs: Exchange rate fees and currency volatility can significantly increase final costs.
• Nostro/Vostro Accounts: Some banks use separate foreign currency accounts with high operational costs, passing the burden onto customers.

According to the Remittance Prices Worldwide report by the World Bank:

• The average cost of remittances in G8 countries is 5.87%.
• In G20 countries, this rises to 6.47%.
• Regions like Europe and Central Asia (ECA) saw significant increases in 2024, with costs rising from 6.66% in 2023 to 7.39% in 2024.

Blockchain: a more cost-effective alternative

In contrast, blockchain payments offer significantly lower costs. Depending on the blockchain network used, fees for international transactions can be drastically reduced:

• Ethereum: $6.42 per transaction, competitive compared to traditional methods.
• Solana: $0.007 per transaction, one of the fastest and most affordable solutions.
• Polygon PoS: $0.02 per transaction, ideal for micro-payments.
• Avalanche C-Chain: $0.16 per transaction.
• Base: $0.21 per transaction.
• Arbitrum: $0.25 per transaction.
• Optimism: $0.28 per transaction.

Blockchain technology introduced by digital and FinTech services is becoming an increasingly attractive option for reducing international transfer costs and improving transaction efficiency.

Slow Settlement Times

Traditional payment methods often suffer from lengthy settlement times, causing delays in fund availability:

• Automated Clearing House (ACH): 1-3 business days.
• International wire transfers: 1-5 business days.
• Debit/credit card payments: 1-3 business days.
• Paper cheques: 2-5 business days (plus potential postal delays).

In contrast, blockchain payments offer much faster processing times:

• Bitcoin: ~60 minutes.
• Ethereum: ~15 minutes.
• Stellar: ~5 seconds.
• Sui: Less than 1 second.

Poor User Experience and lack of traceability

International payments face numerous challenges regarding transparency and security, which can slow operations and increase risks, especially for small businesses that are often less equipped to address these issues.

• Fragmented Regulations: Each country has its own rules, making compliance difficult and creating inefficiencies in traditional payment systems.
• Limited Visibility: Traditional methods often provide a poor user experience and need more transaction traceability, complicating operation monitoring.

Fraud risks and security in International Payments

International payments are particularly vulnerable to cyberattacks and fraud attempts, especially when using outdated systems. The slowness of traditional payment methods increases the likelihood of fraudulent interventions.

In contrast, blockchain networks offer a solution to these challenges by providing:

• Enhanced Speed: Faster transactions reduce the time window for potential fraud.
• Improved Traceability: Every transaction is recorded on a public, immutable ledger, ensuring complete visibility and security.
• Higher Security Standards: Advanced encryption and decentralised structures make blockchain payments far less susceptible to cyber threats.

How new technologies benefit businesses

Adopting advanced technologies for international payments provides three key advantages for businesses:

1. Market Expansion: More efficient payments facilitate access to foreign markets and enhance global trade opportunities.
2. Process Automation: Automation reduces errors, accelerates transaction processing, and strengthens fraud prevention mechanisms.
3. Greater Transparency: Companies gain better visibility over costs, processing times, and exchange rates, allowing for more accurate financial planning.

Blockchain and Its Impact on B2B Payments

The blockchain is transforming international B2B payments, offering a unique combination of speed, transparency, security, and reduced costs, making it one of the most promising technologies in the global financial sector.

Advantages of Blockchain

Blockchain enables transactions with distinctive benefits:

• Fast and Cost-Effective: Payments made on the blockchain can be up to 5,000 times cheaper than traditional methods like bank transfers and up to 432,000 times faster, particularly for cross-border transfers.
• Traceable: Every transaction is recorded on an immutable public ledger, ensuring transparency and ease of monitoring.
• Secure: Using stablecoins such as Tether (USDT) and USD Coin (USDC) eliminates the volatility risks of traditional cryptocurrencies, as these are pegged 1:1 to fiat currencies like the US dollar or euro.
• Regulated: Stablecoins like USDC already comply with international regulations, including the EU’s MiCAR framework.

Stablecoins: A Solution for International Payments

A stablecoin is a cryptocurrency designed to maintain a stable value over time. It is typically pegged to a reference asset such as a fiat currency (e.g., the US dollar or euro), a commodity (e.g., gold), or a basket of assets. This type of cryptocurrency combines the stability of traditional currencies with blockchain technology, enabling fast, cost-effective, and transparent transactions. Stablecoins are used in international payments, protection against cryptocurrency volatility, and as a bridge between traditional and digital financial systems.

For example, the USD Coin (USDC) is pegged 1:1 to the dollar. This means that 1 USDC always equals 1 US dollar.

Layer 2: the next frontier in payments

The term Layer 2 refers to technological solutions that operate on top of a primary blockchain (called Layer 1, such as Ethereum or Bitcoin) to improve scalability, reduce transaction costs, and increase processing speed. These solutions offload some operations from the main blockchain by executing them off-chain while still ensuring security and decentralization. Layer 2 solutions are essential for addressing the network limitations of Layer 1 blockchains, such as congestion issues. Many of them support stablecoins, which, as mentioned, are well-suited for payments due to their stable value. Additionally, with ultra-low transaction costs, they are ideal as a payment system.

Examples of Blockchain Applications

Leading companies are embracing blockchain-based solutions:

• Visa B2B Connect: Utilises blockchain for bank-to-bank transactions without requiring cards.
• Mastercard Send: Provides instant payments via a private blockchain.
• Stripe and USDC: Enables payments with regulated stablecoins like USD Coin, ensuring compliance and security.

Innovative platforms like Young Platform support businesses adopting blockchain for international payments, offering simple, efficient, and customisable tools to improve global payment processes.

Simplify Your International Payments

To learn how blockchain can optimise your company’s international payments, contact the Young Platform team at [email protected].

Explore our B2B services

Related Articles

• Bot Only Euro: The solution for accepting crypto payments without tax implications
• OTC Desk: What it is and how it works
• What Are Sub-Accounts For?
• Bitcoin for Corporate Treasury Management

Does your company have a crypto portfolio? Sub Accounts are the best way to manage different strategies or delegate activities

Learn what Young Platform’s Sub Accounts are and how to use them to better manage your corporate cryptocurrency portfolio. 

What are Sub Accounts?

Typically in a trading platform, a ‘Sub Account’ (SA) is a type of account subordinate to a main one, called a ‘Master Account‘ (MA).The MA may thus create secondary and segregated accounts, each of which may have different purposes. 

This facility is used for different purposes, but is usually set up to manage funds or assets separately. Here are just some of the common situations in which the Sub Account functionality could be useful: 

1. Management: possibility of using Sub Accounts to separate funds for different trading strategies or markets. For example, a trader might have one SA for day trading and another for long-term investments.
2. Monitoring: Sub Accounts allow transactions executed in different strategies or portfolios to be monitored separately. This can simplify record keeping and performance evaluation.
3. Risk: SAs can be used to set commensurate risk limits for different trading activities. This helps to avoid excessive losses on a specific account.

In essence, Sub Accounts offer greater flexibility and control in the management of funds. Let us now turn to the advantages of choosing the Young Platform service.

Young Platform Pro Sub Accounts

The functionality is available on demand and only from the Pro version of Young Platform, where it is very simple and intuitive to use. But first let’s see what it consists of.

The Master Account has full powers to:

• Send and withdraw funds to and from any SA
• Move funds between accounts (free of charge, no fees)
• View and manage SA orders
• Check SA balances
• View transactions executed by SAs
• Enable or disable certain cryptocurrency pairs for individual SAs
• Remove SAs
• Reset SA passwords
• View the access history of SAs

In addition, Sub Accounts can be ‘Managed’ or ‘External’, where the former is the mode dedicated to the company’s legal representative who wants to use both an MA and an SA, while the latter is the mode more suitable for teams. In the ‘External’ mode, the MA is managed by the legal representative, while the SA can be given to team members or collaborators.

The advantage of Young Platform is that you can combine this functionality with other services such as the Only Euro Bot: in this way, you simplify the receipt of cryptocurrencies in your account, without preventing you from making recurring trades or purchases.

In fact, as the Only Euro Bot simplifies the handling of payments in crypto by automatically converting them into euros, this can get in the way of trading. With Sub Accounts this is immediately solved: you activate the Bot on one account and with the other you focus on your market strategy.

Want to know more? Write to [email protected], our operators will contact you within 48h.

Discover all B2B services

The applications of blockchain in business range from traceability to cyber security. Find out how to integrate it into your business

Companies today are increasingly data-driven, data that they collect, process and use to improve their products or operations. This is combined with the continuing trend of technology towards automation. The exemplary fruit of these two currents is artificial intelligence: think of how much data ChatGPT’s software alone requires.

AI, however, is not the answer to everything. So here’s why blockchain can facilitate both the management of data and its automation.

The problem of trust in data

Today we have a large surplus of data: data that is more or less useful, more or less truthful, more or less sensitive or accessible. Managing this information correctly from the source is crucial to protect both people and organisations.

The consequences can vary in scope: from fake news that makes us look bad, to a serious breach of privacy that leads to financial losses.

After all, the data we believe in and how we read it create our reality. When data is falsified for whatever reason, communication problems can arise. What happens if a service communicates wrong information to its customer, or if the error occurs between two partner companies? Trust is broken, the customer or partner is lost. 

Not only that, the consequences can be even more serious: imagine what a mistake in a medical record or in the address of a parcel means.

But there are even more common examples that demonstrate the importance of trust in data. Would you buy a designer dress, knowing that it was produced through exploitation? Or organic food, knowing that it was not grown according to these parameters?

Unfortunately, there are many cases where producers ‘get away with it’, due to a lack of visibility of a product’s history, fragmented in so many places and intermediaries.

We have now surrendered to the normalcy that in all relationships, what cannot be controlled, must be left to blind trust. But it does not have to be that way.

Technology can help us in this too, and blockchain is especially perfect for replacing that margin of  blind trust with justified trust. Let’s look at the various application cases.

Traceability and verifiability

Imagine the blockchain as a register of immutable data. No data can be changed: there is only one version of the facts, the original one.

In addition, it is not controlled by a single authority, but can be compiled and managed with the consent of all those involved in the system. This makes information impartial and shared.

This is music to the ears of those sectors that fight counterfeiting every day. Especially when it comes to luxury goods, the value often lies in the origin. If the origin is certified, the customer will have complete confidence in the value of the good and will be incentivised to buy it.

Not only that: counterfeiting represents the biggest challenge globally for legal documents, financial documents and goods such as pharmaceuticals or foodstuffs. It costs companies more than 7 per cent of their annual expenditure, amounting to almost $4 trillion each year on a global scale.

For fashion brands, counterfeiting represents illicit competition resulting in a loss of sales of more than $50 billion every year. So Louis Vuitton, Prada and Cartier collaborated to create Aura, a blockchain system that allows the history of luxury products to be tracked and reliably authenticated. Microsoft and ConsenSys, a company specialising in blockchain technology, were involved in developing the technological infrastructure.

The traceability and immutability of data is also crucial in the supply chain.

When integrated, blockchain can offer real-time visibility into the entire production and distribution process. This means that companies can monitor every step a product undergoes, improving overall efficiency and creating added value. 

This is the case for Nestlé, which adopted blockchain technology to ensure the security of its supply chain, particularly focusing on ingredients used in the production of baby food such as puree and pouches produced by Gerber. This decision was influenced by events such as the salmonella contamination scare involving large quantities of baby milk powder in France in early 2018, as well as the E. coli outbreak affecting lettuce in the United States. In this context, ensuring food traceability has become paramount.

Security and privacy

The blockchain uses advanced cryptographic techniques to protect transactions and data. Moreover, since they are distributed networks, they do not have a vulnerable central point. This makes them resistant to intrusion: it is very difficult for anyone to try to hack or breach a blockchain network, as it would require a huge amount of resources and would be extremely complex. This feature greatly improves data security and minimises the risk of unauthorised access or data breaches. 

In 2023, Statista’s analyses revealed that cybersecurity spending exceeded $71 billion. The following year, this figure increased by 11% compared to the previous year, reaching an impact of over $79 billion on businesses. Projections suggest that, although 2023 marked the most expensive period in the last decade for cybersecurity, 2024 is expected to surpass it significantly.

Engineers at the Defense Advanced Research Projects Agency (DARPA), the technology development wing of the US military, have developed a blockchain-based encrypted messaging system that allows US military personnel to exchange vital information in real time, anywhere in the world, without fear of interception by foreign hackers.

Staying in the context of data security, thanks to blockchain and the use of cryptography, the level of data privacy is highly programmable. One can choose a blockchain that only authorised persons have access to, with the aim of protecting sensitive data, or one can verify personal data without learning about it.

In any case, the recorded data is always immutable and shared by all participants.

It is no coincidence that applications in the field of digital identity and healthcare are among the most interesting.

One such company is Health Linkages, which leverages blockchain technology to promote transparent management of sensitive data, increase auditability of analyses and improve compliance in the healthcare sector. Thanks to Health Linkages’ blockchain, only authorised operators can share patient data. In addition, it records every single health event chronologically, providing physicians with a clearer picture for making medical decisions.

Discover opportunities for your business

According to research conducted by Fortune Business Insights, the size of the global blockchain technology market was estimated at $11.14 billion in 2022 and is expected to grow from $17.57 billion in 2023 to $469.49 billion by 2030, showing a compound annual growth rate (CAGR) of 59.9 per cent during the forecast period.   
With the expanding growth opportunities in the market and the wide range of possible applications and use cases, more and more companies are making significant investments in this innovative technology. If you would like to find out how your company can integrate blockchain into its business model, please email [email protected] to access our white-glove services.

With the expanding growth opportunities in the market and the wide range of possible applications and use cases, more and more companies are making significant investments in this innovative technology. If you would like to find out how your company can integrate blockchain into its business model, please email [email protected] to access our white-glove services.

Discover our B2B services

Understanding OTC: beneficial for large-volume transactions in the crypto market.

What does OTC (over-the-counter) mean in the context of the crypto market? This term refers to transactions that occur directly between two parties outside of exchanges. OTC trading is particularly popular among traders handling large-value orders, as it offers distinct advantages.

Explore the meaning of OTC and why it’s a compelling option in this article.

What does OTC mean?

OTC stands for over-the-counter and refers to financial transactions conducted directly between parties, bypassing regulated or public markets. These operations take place privately between the buyer and the seller or through intermediaries like banks, dealers, or brokers.

The transaction terms—such as price, quantity, expiration date (if applicable), and other conditions—are negotiated directly. These negotiations can be done verbally, by phone, via email, or on a specialised platform.

Although OTC transactions occur outside regulated markets, they are still subject to prevailing financial regulations within the respective jurisdiction.

The advantages of OTC in the crypto market

In the crypto market, OTC trading has specific benefits, particularly regarding liquidity.

This service is often sought by institutional investors, high-volume traders, and individuals who wish to trade substantial amounts of cryptocurrency outside public exchanges. Typically, these transactions involve amounts exceeding €50,000.

Trading such large volumes on an exchange can lead to challenges for both the trader and the broader market participants.

Market volatility: The relatively lower crypto market liquidity than traditional financial instruments means that large trades can cause excessive price volatility. These temporary price spikes could lead to slippage for other traders or even trigger false trend signals (e.g., a bull trap).

Order fulfilment issues: Most exchanges lack sufficient liquidity to fulfil a large order at a single price point. To execute such an order, the exchange must aggregate smaller offers from the order book, often resulting in partial execution or rejection of the order if the volume is too large.

The Young Platform OTC desk

Young Platform’s OTC service caters to investors and businesses looking to buy or sell significant amounts of cryptocurrency.

Our clients’ needs extend beyond simple trading. Business accounts may aim to diversify corporate liquidity or to convert large crypto payments into euros, such as capital increases that require notarisation in fiat currency.

Key features of our OTC desk

• Access to over 70 trading pairs (crypto-fiat and crypto-crypto).
• Transactions start from €50,000, with no upper limit.
• One-on-one contact via phone.

How does an OTC transaction work?

• Contact the team via email.
• Receive instructions on accessing the desk.
• Get a quote: The OTC desk will provide a price and the estimated value you’ll receive. The offer is valid for one minute, during which you can accept or decline and await a new quote.
• Execute the order: Once you accept a price, the order is processed, and the corresponding amount is credited to your Young Platform account.

Additionally, you can request limited orders or support for transfers and related operations.

Contact us now to execute an OTC transaction at [email protected]. 

The information in this article is for information purposes only and does not constitute an incentive to invest.

Bot Only Euro: the solution for companies that want to receive crypto payments without worries

Young Platform has developed a number of crypto services dedicated to companies and businesses, one of which is BOE, Bot Only Euro. With this automated functionality, companies receiving cryptocurrency revenues can automatically convert these into euros and thus simplify their operations. 

A new revenue stream: crypto

More and more companies are accepting payments in cryptocurrencies, either because of the needs of their customers, who often demand to be able to spend their crypto-assets, or for internal predisposition. Indeed, some even choose to diversify their liquidity with cryptocurrencies, or include them in their investment portfolios. Consequently, accepting payments in crypto does not become a problem, but a plus.

There are numerous businesses to which the Bot Only Euro is dedicated, just think of import-export. Accepting Bitcoin and other virtual currencies can make international trade cheaper. If, for example, a partner company is based in a non-European country, where the currency has an inconvenient exchange rate, or whose banking system is inefficient, payment on blockchain can circumvent these obstacles.

Payments on blockchain are instantaneous, traceable, global, and therefore not limited by the banking or monetary system of the country in which one operates.

Moreover, on blockchain there is also the possibility of using cryptocurrencies with a stable price pegged to the dollar (the stablecoins), avoiding excessive volatility.

There is another frequent case of cryptocurrency adoption by companies: NFTs.

In 2020, the trend of Non Fungible Tokens was all the rage. These are blockchain-based digital objects that can represent works of art, collectibles or certificates. Thus, many brands and artists started to create their own collections: from fashion houses, to singers, to video games, these tokens have become a must-have for any entertainment brand identity.

But what does this have to do with cryptocurrency payments? 

NFTs in most cases are purchased with cryptocurrencies, which go to the author, i.e. in this case the company or artist. In addition, they can generate royalties, as they secure copyright on the blockchain and the corresponding remuneration for the use of the artwork.

Consequently, any company that issued one or more NFTs could receive payments and revenues in cryptocurrencies.

These are just a few cases, but the development of Web3 holds many new scenarios, which we have yet to imagine.

Young Platform’s Bot Only Euro

Due to the success of the crypto and NFT market, the need to create support services for companies that want to seize these opportunities has emerged.

This is why Young Platform first introduced the Business Account on its exchange, so that any company can buy or sell crypto. To receive cryptocurrency payments on the Young Platform account, any company can simply share its wallet address with the customer. To generate your address you just need to initiate the deposit process.

Once you start receiving cryptos, however, you have to take into account that they vary in price and may therefore lose or gain value over time. As a result, they may complicate business accounting, and you may also have to pay taxes on them depending on your country’s regulation.

Because of this, many enterprises prefer to convert the cryptocurrencies they receive into euros, so that they also have more liquidity and can reuse it for operational expenses.

The BOE (Bot Only Euro) service does exactly that: every payment received on the company account is automatically and immediately converted into euros at the market price. The solution is flexible: you can select which cryptocurrencies to convert automatically, leaving open the possibility of not converting all of them.

Activating the BOE feature on cryptos avoids the fluctuation of their value, no capital gains or losses are generated, and consequently no income taxes are required to be paid on these crypto-assets (but be sure to check your country’s tax law). It also speeds up operations, as there is no need for manual sales transactions.

The advantages of the Only Euro Bot are plain to see! Find out how to activate the functionality by contacting the Business Services team now at [email protected].