Balance, which is a cryptocurrency exchange, has announced a partnership with Chiliz. The fintech company deals with blockchain and publishes sports and entertainment entities.
A news publication on Binance claimed that Binance had announced a partnership with Chiliz, extending the investments that it already had in the fintech blockchain company. This move sees that they partner for a long-term goal in the market.
According to a press release by Binance, they said that they are happy with their existing partner, Chiliz, a fintech blockchain company providing sports and entertainment entities. Their first project together is a Fan Tokens allocation through Binance Launchpool.
FintechZoom is a leader in Fintech news, had given this tweet on the development.
Chiliz, the fintech blockchain company, works through Socios.com. It is a fan influence and rewards portal that partners with some of the world’s largest sporting clubs. A few of them include FC Barcelona, Atletico de Madrid, Juventus, and AS Roma.
The Socios.com comes with a native token $CHZ, a non-financial mainstream blockchain product globally. Being released in the market for approximately one year, it has grown immensely with more than 350000 users.
Additionally, $CHZ has more than 15 million tokens sold worldwide and has scored more than 700,000 votes on the blockchain. Now, with Binance Launchpool, traders can receive the new tokens rewards for being able to stake different tokens.
The first partner of Socios.com working with Binance LaunchPool would be Italian champions Juventus (JUV) and Paris Saint-Germain (PSG) fan tokens. Traders can stake BNB, CHZ, or BUSD tokens from separate pools beginning December 15th.
They can do it from 0:00 AM (UTC) until January 14th at 0:00 AM (UTC). Once it is over, the cryptocurrency exchange will list tokens of Paris Saint-Germain (PSG) and Juventus (JUV). Both these tokens can be found in the innovation zone.
Changpeng Zhao, also known as CZ, is the founder and CEO of Binance; said that Chiliz has always been part of the market through fan tokens. They have shown what is missing. Cryptocurrency can be brought to the mainstream audience all around the world.
Zhao also said that the exchange is delighted to have Chiliz onboard for a more exciting and intriguing partnership that will empower fan engagement and the adoption of cryptocurrency with a captive audience of billions.
Alexandre Dreyfus, CEO & Founder of Chiliz, added that Binance is an existing partner, and improvements in the Bitcoin market and entertainment industry are useful. They plan on adding games, NFT-based events, and leaderboards.