Binance launches trading and staking for three more Chiliz fan tokens
Binance, the world’s largest cryptocurrency exchange by trading volume, is listing another batch of fan tokens by a major sports-focused token platform, Chiliz.
According to a Dec. 23 announcement, Binance Launchpool — a platform allowing users to stake tokens for up to 30 days to earn rewards — will soon feature three more sports fan tokens: Dota 2 esports team OG, Atlético de Madrid Football (ATM), and AS Roma Football Club (ASR).
As part of the new allocations, Binance users will be able to stake Binance Coin (BNB), Binance Dollar (BUSD), and Chiliz (CHZ) against OG, ATM and ASR fan tokens starting from Dec. 24 up to Jan. 23, 2021.
Starting from Dec. 30, Binance will also list OG, ATM and ASR in its Innovation Zone and open trading against major cryptocurrencies like Bitcoin (BTC) and Tether (USDT). The upcoming trading pairs include OG/BTC, OG/USDT, ATM/BTC, ATM/USDT, ASR/BTC and ASR/USDT.
Binance CEO Changpeng Zhao said that traditional sports and esports industries are more actively exploring and engaging in the crypto industry. “Fan tokens have been well-received by our users, and we are happy to work closer with Chiliz to continue providing access to them,” Zhao added.
The latest development brings the second phase of the collaboration between Binance and Chiliz after the two companies announced a strategic partnership on Dec. 14. In conjunction with the announcement, Binance announced the listing of Chiliz fan tokens for Paris Saint Germain (PSG) and Juventus (JUV) football clubs on its Binance Launchpool.
Alexandre Dreyfus, CEO and founder of Chiliz and its affiliate startup Socios, said that the companies expect to add “many more partners from the sports and entertainment space in the near future.” Dreyfus noted that the collaboration intends to boost the industry’s digital transformation, fan engagement and monetization ecosystem.
Chiliz and Socios have been actively expanding their leadership as global fan token providers. In August 2020, Chiliz and Socios announced plans to launch a Visa debit card featuring fan tokens for major teams like FC Barcelona. In July 2020, Brazil’s largest cryptocurrency exchange, Mercado Bitcoin, launched CHZ trading against the Brazilian real. Previously, Chiliz and Socios sold $1.3 million worth of FC Barcelona’s fan tokens in less than two hours.