Binance launches trading and staking of three new Chiliz fan tokens

Binance Launchpool will soon introduce three new fan tokens: that of OG (e-sports team), Atlético Madrid and A.S. Roma

Binance, the world’s largest cryptocurrency exchange by trading volume, is launching the listing of new fan tokens issued by one of the industry’s leading platforms, Chiliz.

According to an announcement on 23 December, Binance Launchpool, a platform that allows users to stack tokens for up to 30 days and reap rewards, will soon unveil three more fan tokens: that of OG, the Dota 2 e-sports team, and those related to the well-known football teams Atlético de Madrid Football (ATM) and AS Roma Football Club (ASR).

As part of the new listings, from 24 December until 23 January 2021, Binance users will be able to stack Binance Coin (BNB), Binance Dollar (BUSD) and Chiliz (CHZ) to obtain OGs, ATMs and ASRs.

From 30 December, Binance will also open up OG, ATM and ASR trading in its Innovation Zone and open trading against major cryptocurrencies such as Bitcoin (BTC) and Tether (USDT). Trading pairs already announced include OG/BTC, OG/USDT, ATM/BTC, ATM/USDT, ASR/BTC and ASR/USDT.

Binance CEO Changpeng Zhao said that traditional sports and e-sports companies are increasingly exploring the crypto sector:

„Fan tokens have been well received by our users, and we are happy to work closely with Chiliz to continue to provide access to them.“

This news ushers in the second phase of the collaboration between Binance and Chiliz, after the two companies announced a strategic partnership on 14 December. In conjunction with the announcement, Binance also announced the listing of Paris Saint Germain (PSG) and Juventus (JUV) fan tokens.

Alexandre Dreyfus, CEO and founder of both Chiliz and its affiliated startup Socios, said the companies expect to welcome „many more sports and entertainment partners in the near future“. Dreyfus also emphasised that the partnership aims to promote the digital transformation of the industry, fan engagement and new methods of monetisation.

Chiliz and Socios are major players in the sports fan token issuing industry. In August 2020, the two companies announced plans to launch a Visa debit card with tokens from major teams such as FC Barcelona. In July 2020, Brazil’s largest exchange, Mercado Bitcoin, launched the CHZ/Brazilian Real trading pair. Previously, Chiliz and Socios had made headlines with the sale of $1.3 million of FC Barcelona fan tokens, completed in less than two hours.