Meet fintech YouHodler, crypto-currency lending platform
YouHodler is a crypto-currency lending platform that aims to bridge the gap between blockchain and traditional finance
By offering to use cryptos as collateral to obtain instant cash or crypto-currency loans, this FinTech company makes it possible to both hold crypto-currency assets and profit from their liquidity. In 2019, YouHodler CEO Ilya Volkov chose to establish his company in the canton of Vaud. He has also become the coordinator of the CryptoValley association's activities in French-speaking Switzerland and Western Europe.
When asked about blockchain and crypto-currencies, Ilya Volkov soberly explains, "It's not a revolution, it's just a rational evolution of the financial market." YouHodler emerged from different ideas from his previous blockchain start-ups. "We launched our project in 2017 and spent almost a year in Silicon Valley gathering experience and acquiring knowledge," recounts Ilya Volkov. After an initial development phase, the company looked for the best place to establish its headquarters to operate on a global scale.
YouHodler was initially launched in Cyprus, where the team had already run other FinTech projects, but continued to search for "the best jurisdiction". After looking at the USA, Asian countries, Malta and the Baltic States, YouHodler finally chose Switzerland "for its location in the center of Europe, its renowned financial infrastructure and the excellent support offered to set up a business here".
"Working in the most beautiful place in the world makes your brain much more efficient!"
After an initial meeting with Switzerland Global Enterprise, YouHodler was presented to several cantons. "Innovaud gave us friendly, understandable and relevant advice," says Ilya Volkov. "At that time, French-speaking Switzerland, and Vaud in particular, were particularly promoting crypto and the CryptoValley association was launching a new chapter in French-speaking Switzerland." YouHodler therefore chose to set up in the canton of Vaud, where the company has the benefit of being a leader in the crypto community, and has good infrastructure, qualified professionals from EPFL and UNIL, and strong connections with other cantons. "And working in the most beautiful place in the world makes your brain much more efficient!"
YouHodler currently employs 25 people worldwide, with a small team in Vaud determined to grow to 15 over the next few years. Ilya Volkov also takes on the role of "ambassador" to foreign companies interested in setting up in Vaud, to whom he likes to prove the simplicity of the approach from his own experience. Despite the pandemic, the crypto-currency market is growing, "because people have spent a lot of time online and crypto-currencies are also seen as an alternative to the inflation induced by this crisis."
YouHodler and its CEO manage the Suisse Romande Chapter of CryptoValley, Europe's most active association in this sector. The community brings together professionals from various crypto-related professions: engineering, security, education, regulation, start-ups, etc. Forced by the pandemic to convert their activities to digital format, Ilya Volkov and his team are proud to have built a global community with members from all over the world: "I'd like to see the authority, reputation and value of our community continue to grow and strengthen," he declares.
Source : Innovaud
