YouHodler, a Swiss brand that provides crypto-backed loans, has signed a two-season crypto partnership deal with the Italian football club, Torino.

The deal, which is Torino’s first with a cryptocurrency-based company, comes two months after YouHodler was approved and registered as a cryptocurrency service provider in Italy.

YouHodler in a statement on Friday disclosed that the deal includes “a series of activations” that will help to boost its standing in the European country.

The Swiss fintech company, which intends to open a physical office in Italy soon, added that both brands will team up on more initiatives in the future.

“Thanks to this collaboration, YouHodler will obtain full brand presence across various formats in the stadium physically, digitally, and on the club’s website as well,” YouHodler said in the statement.

Furthermore, the fintech company said a special company-sponsored match will take place in February next year as part of the deal.

Speaking on the deal, YouHodler's CEO, Ilya Volkov, expressed excitement about the partnership.

“Torino Football Club is one of the oldest Italian clubs built on a century of tradition and a long-lasting Italian-Swiss relationship. Also, the city of Torino is just around the corner from our home base in Switzerland. That makes us very close to the club, not just physically, but mentally and spiritually as well,” Volkov said.

Fighting Identity Fraud

In March, YouHodler, which already uses Elliptic to manage its crypto industry anti-money laundering efforts, completed the integration of Sumsub into its platform.

The Swiss company said it had onboarded the identity verification and anti-fraud solution in order to “enforce its industry-best wallet and platform.”

The integration of the solution came after “a long and detailed testing process,” YouHodler added.

Meanwhile, in July last year, YouHodler appointed Igor Bannikov as the Chief Risk and Compliance Officer.

YouHodler said it had hired Bannikov, a former Senior Compliance Officer at Switzerland-based bank, UBP, to oversee regulatory compliance across all of its entities.

This article was written by Solomon Oladipupo at www.financemagnates.com.