Chicago-based high-frequency buying and selling agency Leap Buying and selling has made an fairness funding in sports activities fan token platform Chiliz.
1629 Complete views
11 Complete shares
Blockchain-based sports activities platform Chiliz has sealed an fairness funding of an undisclosed quantity from Chicago-based buying and selling agency Leap Buying and selling LCC.
Leap Buying and selling — a proprietary buying and selling agency based 20 years in the past by Chicago futures pits veterans Invoice DiSomma and Paul Gurinas — has been engaged for a while within the cryptocurrency house, alongside its wider actions in international futures, choices and equities markets. The agency focuses on algorithmic and high-frequency buying and selling methods and has reportedly been market making for Chiliz’s tokens since early 2021.
Chiliz’s 12 months to date has been a bullish one, with its native token, CHZ, hitting all-time highs within the spring of this 12 months and plenty of of its related sports activities membership fan tokens seeing main beneficial properties throughout the identical interval. Chatting with Cointelegraph, Chiliz CEO Alexandre Dreyfus stated:
“The help of Leap Buying and selling into the Chiliz and fan tokens ecosystem is a recognition for the sports activities crypto house […] It is usually an fascinating transfer, as we firmly imagine that fan tokens are a a lot, a lot, larger market than NFTs and digital sports activities collectibles.”
Dreyfus stated that Chiliz is specializing in constructing out the expertise platform and offering utility for sports activities fan token holders by way of its consumer-facing Socios.com cellular software.
“Having the help of Leap Buying and selling for the liquidity and community impact of our market is unquestionably an enormous upside. Their experience and assets will assist us and golf equipment to develop this trade globally, as it’s a international recreation,” he stated.
This 12 months, in addition to onboarding new membership companions comparable to FC Barcelona, AC Milan and Manchester Metropolis, Chiliz revealed plans for a $50-million enlargement to arrange an workplace in New York and try to forge ties with North American leagues and sports activities franchises.
The corporate has additionally joined forces in a long-term strategic partnership with cryptocurrency alternate Binance. In late 2020, Binance introduced that Chiliz fan tokens for Paris Saint-Germain (PSG) and Juventus (JUV) soccer golf equipment can be featured on its Launchpool platform.