Binance to add support for Paris Saint-Germain and Juventus fan tokens

The Bitcoin exchange Binance announced a strategic partnership with blockchain company Chiliz, operator of the Socios.com platform for issuing fan tokens for sports and entertainment clubs and organizations.

Introducing @juventusfc and @PSG_inside Fan Tokens on #Binance Launchpool!

Farm $JUV and $PSG tokens By Staking #BNB, #BUSD & $CHZ @Chiliz Tokens

— Binance (@binance) December 14, 2020

As an early investor in Chiliz, Binance will expand cooperation and add the ability to distribute fan tokens via the Launchpool platform.

Users will be able to earn staking rewards in various tokens, with the first to be introduced being the fan tokens of Paris Saint-Germain and Juventus. To this end, from December 15, users will be able to join pools made up of Binance Coin (BNB), Binance USD (BUSD) or Chiliz (CHZ) tokens.

On December 21 the exchange will list Paris Saint-Germain Fan Token (PSG) and Juventus Fan Token (JUV), to be traded in pairs with Bitcoin (BTC), Tether (USDT) and Binance USD (BUSD).

Chiliz has also issued on Socios.com fan tokens for Barcelona, Atlético Madrid, Galatasaray, Roma, the Dota 2 champions OG, and many others.

“Chiliz has become part of the crypto world thanks to fan tokens, which have shown enormous potential in bringing cryptocurrencies to a mainstream audience around the world,” said Binance CEO Changpeng Zhao.

The exchange is expected to post profit of up to $1 billion for 2020.

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