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[Blockchain Today reporter Jeong Seung-won] Chicago-based trading company Jump Trading has invested in a blockchain-based sports fan token platform Chiliz (CHZ), Cointelegraph reported.
Reportedly, Chiliz has confirmed an undisclosed investment from Jump Trading LCC.
Jump Trading, a proprietary trading company founded 20 years ago by Bill DiSomma and Paul Gurinas, has been active in the global futures, options and stock markets, and has also participated in the cryptocurrency space. did. The company specializes in algorithmic and high-frequency trading strategies and is known to have been shaping the market for Chiliz tokens since the beginning of 2021.
Currently, Chiliz is rapidly increasing with its own token CHZ, breaking the record for the spring of this year, and during the same period, it has made a lot of performance in various sports club fan token-related fields.
In an interview with Cointelegraph, Chiliz CEO Alexandre Dreyfus said, “Jump trading support for the Chiliz and Fan Token ecosystem is an awareness of the sports cryptocurrency space. […] Fan tokens are also an interesting move because we are convinced that it is a much larger market than NFTs and digital sports collectibles.”
Dryps said Chiliz is focused on providing utility and building a technology platform for sports fan token holders through the consumer-facing Socios.com mobile application.
“Supporting Jump’s trading for market liquidity and network effect will surely be a huge strength. Their expertise and resources will help us and our clubs grow this industry globally as much as a global game.” Said.
This year, Chiliz has announced plans to open an office in New York and deepen relationships with North American leagues and sports franchises, with new club partners including FC Barcelona, AC Milan and Manchester City.
The company also has a long-term strategic alliance with cryptocurrency exchange Binance. Binance announced at the end of 2020 that the Chiliz fan tokens from the Paris Saint-Germain (PSG) and Juventus (JUV) football clubs will be available on the Launchpool platform.