We are pleased to announce the listing of the new token Chiliz (CHZ) in our INR market on 12th May 2020. Deposits will begin at 4PM IST in India (12.30pm CEST) and trading will go live at 6PM IST (2.30pm CEST), with the new trading pair in addition to existing CHZ/BTC & CHZ/USDT pairs on the exchange.
$CHZ is the utility token that fuels Chiliz – a leading fintech company in the sports & entertainment space, specialising in blockchain-based fan engagement. Chiliz offer fan engagement solutions through their fan voting & rewards app Socios.com.
Partners include major soccer clubs FC Barcelona, Juventus, Paris Saint-Germain, Atlético de Madrid, Galatasaray, AS Roma, CA Independiente, esports giants OG and, as of last Thursday (May 7th) UFC® – the world’s premier MMA organization. This is all possible via a scalable blockchain-based Fan Token purchasing utility infrastructure. This infrastructure is secure, trustless and executed via smart contract on the socios.com platform.
As with all digital currencies, demand for $CHZ will increase according to supply and demand — as more football clubs, esports teams and other sports verticals are added to the Socios.com platform, and as more fans want voting rights.
CHZ mentions “For us, blockchain was the most practical and eloquent way to unite the needs of maintaining voting integrity and transparency with turning voting rights into an ‘ownable’ commodity. By having organisations on the Chiliz permissioned chain — connected to the ETH Main Net via tokens exchangeable with our CHZ$ ERC20 token — we are able to create a direct ‘fan-funding’ solution for sports and esports teams in the future.”
The addition of the new trading pair will significantly increase the liquidity of $CHZ in the Indian market. Increasing the accessibility of $CHZ in key markets across the globe is an important part of our strategic plan, with potential new partnerships in leading sports in India – and other international markets – on the horizon.
Additional listings in key markets in recent months include Upbit.com in South Korea and Paribu.com in Turkey. Trading on Chiliz.net, our world-first crypto exchange platform for sports & entertainment, got underway as of April 15th last month with the launch of the $JUV (Juventus) Fan Token. Fan Token trading for all existing Socios.com partners is set to follow in Q2, with additional Fan Tokens to go live on the platform throughout 2020.