based on materials from the portal - By Optimisus
Young Platform announced plans to create the first crypto-native neobank in Europe, established in accordance with the new EU regulation 'Markets in Crypto-Assets' (MiCA). Founded in 2018 in Turin, the company goes beyond a regulated crypto exchange and expands its activities by offering broader financial services focused on digital assets.
The launch comes against the backdrop of rapid growth in digital banking worldwide: the neobanking market was estimated at $143.29 billion in 2024 and is projected to reach $3.4 trillion by 2032. Europe leads this sector with a share of 37.75%.
Why compliance with MiCA is important
MiCA introduces a new EU-wide licensing system for crypto-assets, consumer protection, and transparency. The deadline for full implementation in Italy has been postponed to December 30, but Young Platform has already submitted two preliminary dossiers to Consob and the Bank of Italy. These documents imply obtaining clarifications and requests, ensuring the company's full readiness for the upcoming official submission.
This preparation reflects Young Platform's intention to start operating in accordance with MiCA as soon as it becomes possible to obtain permission, providing users with guarantees of a regulated framework designed to ensure safety and trust.
What is a crypto-native neobank
A neobank is a fully digital bank that provides financial services without the use of traditional branches. While most neobanks are extensions of the existing banking system, Young Platform takes a different approach. Instead of adding cryptocurrency as an additional feature to the traditional structure, the company built its neobank directly within its crypto-ecosystem.
At launch, services will include:
A payment account and debit card with cashback in $YNG, the native token of Young Platform. Regulated perpetual futures that provide users access to new trading opportunities under clear control.
An economic deficit model for $YNG, designed to ensure the long-term stability and utility of the token.
Based on trust
Transparency and compliance remain central elements of the Young Platform model. All transactions are processed through carefully selected European banking partners, ensuring traceability and transparency. Security is enhanced with blockchain analytics tools designed to protect users' funds, and GDPR and EU data protection rules guarantee responsible handling of personal data. Together, these measures create a foundation that allows users to confidently manage payments, savings, and investments.
Preparing for MiCA authorization and developing cryptocurrency-based services from scratch, Young Platform aims to bridge the gap between traditional finance and digital assets.
"We believe that the future of finance will not be about traditional banks using cryptocurrencies as a byproduct, but ecosystems like ours that build banking services on a cryptocurrency basis," said Alexandru Stefan Geban, co-founder of Young Platform. About Young Platform
Young Platform, founded in 2018 in Turin, is a European fintech company that makes cryptocurrency simple, safe, and accessible. The platform offers a regulated exchange, an educational app (Young Platform Step), and advanced trading capabilities through Young Platform Pro, all based on its own token $YNG. Young Platform, one of the first companies to join the EU regulation of crypto-assets (MiCA), is launching the first crypto-native neobank in Europe, integrating payment accounts, debit cards, and regulated trading products into a single ecosystem. More at youngplatform.com/en
#MarketRebound #Сryptomarketnews
In this group, we strive to promptly introduce readers to informational news (more than a dozen websites) concerning changes in the cryptocurrency market and financial markets. There is no aim to impose the correctness (or incorrectness of the site's article!) on any of the readers.
The information is transmitted by us for the purpose of familiarizing with changes in the 'news agenda,' and without claims to originality! Conclusions after reading this information, any sane person will always make independently!
Everything is quite simple. Our subscribers learn about everything a little earlier than others, from one news feed, without wasting time searching for relevant news!
