Binance, the world’s largest cryptocurrency exchange by trade volume, adds support for another batch of fan tokens from a major sports-focused token platform, Chiliz.
According to an announcement dated December 23 Binance launch pool, a platform that Allows users to stack tokens for up to 30 days to earn rewards, will soon have three fan tokens for sports lovers: the esports team Dota 2 OG, Atlético de Madrid Football (ATM) and AS Roma Football Club (ASR).
As part of the new integrations Binance users can use Binance Coin (BNB), Binance Dollar (BUSD) and Chiliz (CHZ) to bet against fan tokens such as OG, ATM and ASR from December 24th to January 23rd, 2021.
From December 30th, Binance will also add OG, ATM and ASR to its innovation zone and open trading in major cryptocurrencies such as Bitcoin (BTC) and Tether (USDT). Upcoming trading pairs include OG / BTC, OG / USDT, ATM / BTC, ATM / USDT, ASR / BTC, and ASR / USDT.
The Binance CEO, Changpeng Zhaosaid The traditional sports and esports industries are researching and getting more actively involved in the cryptocurrency industry. “The fan tokens have been well received by our users and we are excited to be working more closely with Chiliz to keep giving them access,” added Zhao.
The latest development brings The second phase of the collaboration between Binance and Chiliz after the two companies announced a strategic partnership December 14th. Along with the announcement, Binance announced the addition of Chiliz fan tokens for the Paris Saint Germain (PSG) and Juventus (JUV) football clubs to its Binance launch pool.
Alexandre Dreyfus, CEO and founder of Chiliz and its affiliate startup ‘Socios’, said that The companies hope to add “many more partners in the sports and entertainment sectors” in the near future.. Dreyfus noticed that The collaboration is designed to drive the digital transformation of the industry, fan engagement and the monetization ecosystem.
Chiliz and ‘Socios’ have actively expanded their leadership position as global fan token providers. In August 2020 Chiliz and ‘Socios’ announced plans to launch a Visa debit card with fan tokens for key teams like FC Barcelona. In July 2020, the largest cryptocurrency exchange in Brazil, Bitcoin market, started CHZ trading against the Brazilian real. Previously, Chiliz and ‘Socios’ sold $ 1.3 million to FC Barcelona fan tokens in less than two hours.