Young Platform, the Italian crypto-exchange, has received an “on-top” capital injection of 2.65 million euros, led by Azimut. Not only that, the company has appointed Nicolas Bertrand, a senior executive formerly at Borsa Italiana and London Stock Exchange, as the new President. 

Young Platform and the injection of 2.65 million euros led by Azimut

Young Platform, the Italian crypto-exchange, announced that it has received a new capital injection of 2.65 million euros led by Azimut. 

According to the press release shared with The Cryptonomist, this new operation adds to another financing led by the asset and wealth management group, Azimut, which took place in 2022. 

In fact, at that time, Azimut had contributed with 11 million euros, leading a total financing round of 16 million euros.

This new operation is therefore “on top” compared to the previous investment in favor, always, of Young Platform. 

With over 2 million registered users, now the Italian crypto-exchange claims to be ready to pursue its goal of developing additional new products and services aimed at the public. 

Young Platform and Azimut: the announcement of the new President of the Company in Nicolas Bertrand

In conjunction with the gesture of renewed trust from Azimut in Young Platform, the Italian crypto-exchange takes the opportunity to make new important announcements. 

This is about the entry into the capital and the team, especially in the Board of Directors, of the senior executive at Borsa Italiana and London Stock Exchange, Nicolas Bertrand. 

Specifically, Bertrand has been appointed as the new President of Young Platform. 

In any case, regarding the two news items at Young Platform, Andrea Ferrero, Co-CEO and co-founder of the exchange, commented:

“From 2018 to today, each funding phase has progressively strengthened Young Platform’s operational capabilities and market presence, paving the way for continuous innovations and expansions. With this new operation of 2.5 million euros, we are pleased to gain renewed trust from an important partner like Azimut, in view of increasingly significant product and service evolutions that will lead Young Platform to build the first banking platform 3.0: a borderless banking platform that perfectly merges TradFi and Web3, integrating traditional banking services with the innovative functionalities of DeFi, making banking activities global, cheaper, faster, and simpler.”.

Young Platform is regularly registered with the OAM (Organismo Agenti e mediatori creditizi) and has received authorization from the French financial regulatory body, the AMF (Autorité des marchés financiers).

Not only that, the exchange has established an internal Anti-Money Laundering (Aml) department and is proactively adapting operations and policies to comply with future regulations set by the European Union’s Markets in Crypto-Assets (MiCA) framework.

The functionalities on the Report Fiscale

Last May, Young Platform had released new features related to its Tax Report service. 

The idea is to make the process of filing tax returns and the payment of taxes on capital gains from crypto transactions in Italy simpler. 

To succeed in its mission, the Italian crypto-exchange has formed a collaboration with Okipo.