Sign Up on MEXCJust-In: Socios Gains Regulatory Approval In Key Market, Chiliz (CHZ) Price Jumps
Fan token platform Socios.com on Thursday said it has gained regulatory approval in Italy as a service provider of virtual currencies and digital wallets. It will enable the firm to further boost its fan engagement and rewards platform in the key market.
The move ahead of the UEFA Champions League’s group stage marks a key development for the fans and the firm. The Chiliz (CHZ) price continues to jump higher amid key developments by Socios.com. The CHZ price has skyrocketed nearly 50% in a week and 120% in a month.
Socios.com Receives Regulatory License in Italy
Fan token platform Socios.com, in an official announcement on August 18, revealed that it has secured regulatory approval from Italy’s financial regulator Organismo Agenti e Mediatori. The license enables Socios.com to provide virtual currencies and digital wallets for its fan engagement and rewards platform in the key market.
The regulatory approval will help Socios.com to further boost its fan engagement platform and fan tokens in the region. In fact, Socios.com is the official fan engagement and rewards partner for Italy’s national football team. The registration will also support the launch of the $ITA fan token for the Italy national football team.
In fact, Italy is also a key market for the fan token platform as it already has a strong presence in the country. Leading football clubs including AC Milan, Inter Milan, Napoli, AS Roma, Juventus, and the football league Serie A are partners of Socios.com.
Organismo Agenti e Mediatori’s (OAM) license will establish consumer trust, critical consumer protections, and stakeholder relations in the fan engagement platform and fan tokens.
Alexandre Dreyfus, CEO of Socios.com, believes the approval is critical for consumer protection and building fan engagement in the region.
“We are committed to building lasting growth in the region and will continue working with regulators to guarantee legitimacy and trust for our Italian customers.”
Chiliz (CHZ) Price Soars Amid Latest Developments
Chiliz, the digital currency for Socios.com, continues to rise higher amid the latest developments. Socios.com has over 100 partners in football, with over 1.5 million fans from over 160 countries.
The Chiliz (CHZ) price has skyrocketed nearly 50% in a week and 120% in a month. Currently, the price is trading at $0.21, with expectations of rising over $0.40 amid the UEFA Champions League.
- REX-Osprey XRP ETF Debuts With Record $37.7M Volume as Analyst Projects Bullish Run
- MetaMask Token to Launch Sooner After mUSD Stablecoin: Consensys CEO Joe Lubin
- Grayscale’s XRP, SOL, ADA Fund To Begin Trading Tomorrow Following SEC’s Greenlight
- Donald Trump Petitions Supreme Court To Remove Fed Governor Lisa Cook
- Pi Coin Rises As Pi Network Implements Protocol v23 on Testnet
- Cardano Price Stays Above Ichimoku Cloud as Grayscale ADA ETF Approval Nears
- HBAR Price Prediction as SEC Approves Generic ETF Framework – Analyst Targets $1.80
- Toshi Coin Gains 57% in One Day: What’s Driving the Sudden Upside?
- Shiba Inu Price Set to Soar as Exchange Reserves Dive Amid SHIB ETF Chatter
- Pepe Coin Price Prediction as Whale Moves $25M From Robinhood- Is a Breakout to $0.00002 Next?
- XRP Price Prediction as Market Longs Hit 78% amid VivoPower Treasury Expansion Launch — Is $4 Next?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
