Crypto: Young Platform receives authorization from the Autorité des Marchés Financiers (AMF) to operate in France


Publish-editorialYoung Platform, Italy’s leading crypto exchange, is now fully authorized to operate in France after receiving certification as a Digital Asset Service Provider from the French Autorité des Marchés Financiers. This recognition rewards the high quality and security standards of Young Platform. The French cryptocurrency ecosystem is one of the most dynamic in Europe: the number of French people who own cryptocurrencies (8%) has already exceeded that of those who own shares (6.7%).

Paris, January 4, 2023. Young Platform, the leading Italian cryptocurrency exchange, confirms that it has been certified as a Digital Asset Services Provider (PSAN) under number E2022-60 by the Autorité des Marchés Financiers. The Autorité des Marchés Financiers (AMF) is an independent authority that plays a key role in protecting investors and promoting the transparency and stability of French financial markets. With the certification of Young Platform, the AMF confirms the solidity of a model that protects users.

Certification by the French Autorité des marchés financiers is another important step in Young Platform’s ambitious European expansion plan and comes just six months after a €16 million fundraising campaign led by Azimut to educate the Europe to cryptocurrencies. Young Platform brings together a growing community of over one million users and can now kick off its next phase of growth, becoming a key player in the French cryptocurrency ecosystem, one of the most active in Europe.

According to a study carried out by the consulting firm KPMG on behalf of the Association for the Development of Digital Assets (Adan), nearly 8% of French people own cryptocurrencies and 30% intend to buy them. Their proportion has therefore exceeded that of French people who own shares: around 6.7%, according to the AMF. Thus, to date and despite the recent diffusion of digital assets, more French people hold cryptocurrencies than own shares.

Young Platform aims to simplify access to the world of cryptocurrencies for its users by providing a range of digital products and services that meet different needs according to skill level, from beginner to expert. Young Platform targets a broad audience and promotes intensive education on blockchain technology and virtual currencies through a dedicated app and content.

“Beyond simple cryptocurrency conversion, Young Platform’s mission is to transform complex technical concepts developed by a handful of talented developers into simple mechanisms that can be used by most people. In fact, we believe that the driving 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 in the growth of our business and represents a new opportunity for anyone looking to access the cryptocurrency market through Young Platform’s innovative solutions. We are excited about this major milestone and have look forward to growing and bringing our services to an even wider audience,” concludes Andrea Ferrero, CEO of Young Platform.

Ensuring a secure ecosystem for our users

While doubt and fear have taken the cryptocurrency market by storm since last year’s ATH (BTC having gravitated around 60K in December 2021), Young Platform’s certification as a Service Provider on Digital Assets is a badge of honor for the company and a testament to the high standards of its internal processes.

Exchanges that are regulated, transparent, onshore and/or audited are experiencing a sharp increase in their market share. It’s basically about catching up with users who fled to offshore exchanges to find more potentially unregulated assets, higher leverage and lower fees. Since October, the market share of regulated exchanges has increased by 30 percentage points. The obvious conclusion is that there will be a return to regulated exchanges.

Growth in difficult market conditions

As in the case of the stock market and financial markets, the correction that digital assets are undergoing is favored by the failure of the main players who served as gateways to the world of cryptocurrencies. Unlike other cryptocurrency exchanges, which rely on a portion of their users’ assets to build the “liquidity pools” needed to protect the overall user experience, Young Platform has embraced from day one a philosophy based on user protection:

  • Clear separation of company funds and user funds
  • Strategic partnership with external real-time liquidity providers for crypto assets
  • Limitation of user exposure to digital assets audited by our internal teams

The first growth phase of Young Platform was based on these principles, which led it to establish itself in a short time as one of the fastest growing Italian startups, despite the difficult conditions of the cryptocurrency market. .

About Young Platform

Since its launch in 2018, Young Platform’s mission has always been to become the haven for all things cryptocurrency. Young Platform Step, the sister of the Young Platform exchange, allows anyone who wants to enter the cryptocurrency market to obtain YNG tokens (issued by the Young Platform company) in different ways:

  • walking and accumulating steps;
  • by learning the basics of the blockchain ecosystem, taking quizzes and earning YNG for each lesson learned;
  • to realize the importance of volatility by trying to guess the evolution of the prices of the main cryptocurrencies.

Content offered by Young Platform

The editorial staff of Boursier.com did not participate in the creation of this content.



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