Young Platform is an Italian cryptocurrency exchange designed for the next generation of investors and one of the few that allows investors to buy and sell cryptocurrencies by using Euro, thanks to a partnership with an Italian bank.
As of a few days ago, Young Platform offers its users the opportunity to invest in Euros directly in gold, thanks to the integration of PAX Gold into its exchange.
PAX Gold is the first crypto-asset redeemable for physical gold. The New York State Department of Financial Services (NYDFS) has approved Paxos to issue PAX Gold, making PAX Gold the first regulated digital gold product.
PAX Gold is an asset-backed digital token built on the Ethereum blockchain, each representing one fine troy ounce of London Good Delivery gold stored in professional vault facilities in London. PAX Gold customers own the underlying physical gold, while also benefiting from the speed and mobility of a digital asset. Because PAX Gold represents physical gold, its value is tied directly to the real-time market value of gold.
Andrea Ferrero, CEO & Co-Founder of Young commented, "PAX Gold is a truly unique product. It is the fastest and easiest to buy gold and given the volatile market environment, it's important that our investors can access this safe-haven asset quickly and easily. More than $100 billion in gold is traded daily, but access to this market tends to be limited to large institutions. PAX Gold is a digital asset that allows our community to get access to the highest-quality investment-grade gold held in the most secure vaults, with no storage fees," concluded Ferrero.
"Having grown in terms of volumes and new users during these difficult weeks worldwide, Young wanted to give a clear signal to the market by proceeding to implement new features and products, most notably PAX Gold," declared Diego D'Aquilio, CMO & Head of International Expansion of Young.
"By putting PAX Gold on Young Platform, we are democratizing access to gold, in accordance with our corporate mission which is to make the world of cryptocurrency accessible to all," concluded D'Aquilio.
Diego D'Aquilio - CMO & Head of International Expansion of Young
Source :Young Srl
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