SBI Holdings joins forces with Chiliz to launch Fan Tokens

SBI Digital Asset Holdings, the crypto arm of Japanese banking giant SBI Holdings, has announced a partnership with Chiliz (CHZ), a popular fan token platform.

In particular, this collaboration aims to expand the sports fan token ecosystem in Japan, offering local fans new avenues to interact with their favorite football teams through blockchain technology.

The partnership will create a joint venture, leveraging the strengths of traditional finance and Web3 innovations. Fernando Luis Vázquez Cao, CEO of SBI Digital Asset Holdings, highlighted the potential of collaboration to transform sports and entertainment experiences for communities by integrating fintech innovations.

SBI Digital Asset Holdings and Chiliz plan to launch a joint venture in Japan, providing fans access to tokens of famous football clubs such as Manchester City and AC Milan. This initiative will introduce Japanese sports fans to the global token-based community, allowing them to participate in game-day activations and fan-related decisions through the right to vote.

Chiliz, known for its large portfolio of 82 fan tokens and over 150 sports partnerships globally, operates Socios.com, a Web3 wallet and engagement platform for sports fans. Collaboration with SBI Holdings It is expected to improve the reach and adoption of fan tokens in Japan, promoting a more interactive and rewarding experience for local sports fans.

Chiliz Price reacts to partnership announcement

After the announcement of the partnership, the price of Chiliz (CHZ) recorded an upward movement. The positive market reaction reflects investor optimism regarding the potential growth and adoption of fan tokens in Japan, driven by the strategic collaboration between SBI Holdings and Chiliz.

The rise in CHZ’s price highlights the market’s anticipation of greater demand for fan tokens as SBI Digital Asset Holdings and Chiliz launch their joint venture. This partnership is seen as a significant step towards integrating blockchain technology into mainstream sports entertainment in Japan.

SBI Group’s moves in the crypto space

Founded in 1999, SBI Group has consistently demonstrated its commitment to integrating innovative technologies into its financial services. With over 50 million customers globally, the group’s foray into the sports fan token market through its partnership with Chiliz marks another strategic move in the expanding crypto asset space.

Last November, the SBI Group collaborated with Circle promote the use of the USDC stablecoin in Japan. This collaboration with Chiliz aligns with SBI’s broader strategy of leveraging blockchain technology and fintech innovations to enhance its service offerings and engage a broader audience.

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