Home Stock Market Jump Trading supports the token launch of Chiliz fans

Jump Trading supports the token launch of Chiliz fans

© Reuters.

By Anna Irrera and Tom Wilson

LONDON (Reuters) – Exclusive trading firm Jump Trading has invested stakes in Chiliz, a blockchain company that issues tokens related to various sports teams, the companies told Reuters on Tuesday.

The investment amount was not disclosed.

Malta-based Chiliz is known for powering a platform called Socios.com, which provides tokens to football fans, allowing them to participate in polls run by organized club or received rewards and promotions. Several tokens are listed on crypto exchange Binance and several South Korean exchanges.

The company also issued a cryptocurrency called Chiliz which was used to buy so-called fan tokens.

Chiliz has risen more than 2100% to around $ 0.41 since the start of the year, with interest in the coin as well as the company’s fan tokens rising this year amid cryptocurrency prices. increase wider.

has nearly doubled since the start of the year, last month hitting a record close to $ 62,000, with more mainstream investors betting that it will be more widely accepted.

Chicago-based Jump Trading has been in the cryptocurrency industry for several years. Companies say they have created the marketplace – offering bid and ask quotes and liquidity – for the tokens issued by Chiliz since early 2021.

Chiliz CEO Alexandre Dreyfus said the Socios.com platform could help sports teams join and generate revenue from more fans.

“Our Chiliz blockchain and consumer-oriented product, Socios.com have grown massively over the past few months in terms of users, user spend, as well as in new sports partners such as AC Milan. , FC Barcelona and Manchester City, “said Dreyfus.

“Jump Trading investing in the sports crypto space is recognition for us and the industry, that this market is just getting started.”

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