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Business News

Chiliz, football-based crypto on a hat trick, surges by 380% in a week

The fast-rising crypto specializes in creating tokenized cryptos called Fan Tokens that are unique to each sporting team.

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Chiliz, a digital token designed by Socios for sport and entertainment engagement, is enjoying a record-buying spree and currently ranks as the best performing crypto asset for the week.

At press time, Chiliz price is $0.648685 with a 24-hour trading volume of $4.4 Billion. The fast-rising crypto is up by 380% for the week

The 30th most valuable crypto currently has a market capitalization of $3.5 Billion. It has a circulating supply of 5,547,664,720 CHZ coins and a max. supply of 8,888,888,888 CHZ coins.

READ: Football-based Crypto, is world best performing Crypto in 7 days

The most recent rally comes after news of premier football team, Paris Saint Germain, (PSG) progressing to the quarter-finals in the Champions League.

The fast-rising crypto specializes in creating tokenized cryptos called Fan Tokens that are unique to each sporting team.

Owners of fan tokens will be able to influence club decisions to vote in many polls each season on Socios.com, earn rewards linked to the club, other creative digital experiences, and real-life activations, such as meeting players and watching games like a VIP when fans return to the stadiums.

READ: Billionaire, Uzor Kalu wants to buy 35% stake in Arsenal FC

Following PSG’s Champions League progression, the football Fan Token rose by nearly 110%, and the French football team took to Twitter to share the observed “strong demand” for digital collectibles with its 8.7 million followers.

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Dozens of more clubs are set to launch Fan Tokens before the end of the year, with many leading IPs from sports and entertainment also primed to join the Socios.com roster in the near future.

The fast-rising crypto can be traded on crypto exchanges such as OKEx, HBTC, Binance, Huobi Global, and Xtheta Global.

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READ: Ex-Real Madrid Striker, David Barral becomes first-ever footballer to be bought with Bitcoin

Nairametrics believes such partnerships with these football clubs via blockchain will open more economic opportunities and leverage the wider audience via collaboration with the industry’s global brands.

Socios.com Fan Token partners include Juventus, AS Roma, Galatasaray, FC Barcelona, Atlético de Madrid, Paris Saint-Germain, CA Independiente, Apollon Limassol and esports organizations Team Heretics and OG.
Dozens of more clubs are set to launch Fan Tokens before the end of the year, with many leading IPs from sports and entertainment also primed to join the Socios.com roster in the near future.

The sport-backed blockchain, popularly known for its investments in European soccer, recently disclosed that it would invest $50 million in an expansion to the world’s largest economy,

Presently, Chiliz is also holding talks with the prestigious car race championship teams, as the company tries to strengthen its grip on other sports.

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Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Message Olumide on Twitter @tokunboadesina. He is a Member of the Chartered Financial Analyst Society.

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Appointments

Standard Bank Group appoints Yinka Sanni as new Chief Executive of Africa Regions

Yinka Sanni has been appointed as Standard Bank Group’s Chief Executive of Africa Regions.

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Stanbic IBTC declares N10.4 billion interim dividend

The Standard Bank Group has announced the appointment of Yinka Sanni as the new Chief Executive of Africa Regions.

This announcement was made by the Group in a post shared via its official LinkedIn account. The bank revealed that Sanni will be replacing Sola David-Borha who is retiring after 31 years of distinguished service to the group.

His appointment will play an integral role in driving the growth of the Standard Bank Group in Africa further in the years ahead.

He is expected to build on the work of David-Borha, a renowned professional who played a key role in growing the Group’s Africa Regions portfolio in terms of capacity, market share and contribution to the group’s headline earnings.

What you should know

  • Yinka Sanni is a Fellow of the Chartered Institute of Stockbrokers of Nigeria.
  • He has served in key positions within the Stanbic Group, as the Chief Executive of Stanbic IBTC Holdings PLC, Chief Executive of Stanbic IBTC Bank PLC, Deputy Chief Executive of the Bank and Executive Director, Corporate & Investment Banking of the Bank.
  • He was also the pioneer Chief Executive, Stanbic IBTC Pension Managers Limited and the pioneer Chief Executive, Stanbic IBTC Asset Management Limited.

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Corporate Press Releases

P2P crypto marketplace, Bitzlato (BZ) partners with Lemonade Finance to ease money transfers across Africa

The partnership will enable users on the BZ platform to buy and sell bitcoins and other cryptocurrencies on the marketplace at zero cost.

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Bitzlato (BZ), the latest P2P Crypto Exchange to enter the African market, has added Lemonade.Finance, a borderless payment platform for Africa, as a payment method to its platform.

Lemonade Finance provides 100% digital payment experience for Africans to seamlessly participate in the global economy from anywhere in the world without any hassle or regardless of where they are from.

The partnership will enable users on the BZ platform to buy and sell bitcoins and other cryptocurrencies on the marketplace at zero cost.

Users in Nigeria will now be able to send Nigerian Naira (NGN) to MPESA at 0% transaction fee.

Speaking about this partnership, Ridwan Olarere, CEO, Lemonade Finance, said:

“We are excited to partner with such an innovative company like Bitzlato to connect more Africans through payment. Many Africans living on the continent face many difficulties when making payments as remittance companies charge high fees and are time-consuming. We are now providing our users with a cost-effective way of sending money to Ghana, Kenya, Uk and Europe.”

Commenting on the opportunities this provides to crypto traders on the BZ platform, Mike Lunov, CEO, BZ, said:

“This partnership will provide a much-needed gateway that enables the markets we serve to seamlessly interact with each other in a borderless and open environment. We seek to break the barriers that presently exist for cross border transfers and enable our users to generate value through the opportunities that accrue from cryptocurrencies trading. The innovation exhibited by the Lemonade platform, and the brilliance of its team assures users of top-notch, secure and reliable transfers going forward.”

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According to BZ, during the first month, BZ will refund commissions in manual mode while using Lemonade Finance, but this will be automated at the end of this period.

Following this partnership, BZ is now looking to partner with merchants in the crypto space especially in Nigeria, Ghana, South Africa that have a steady flow of Nigerian Naira (NGN) to increase liquidity on the platform.

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Take advantage of the new Lemonade Finance payment method on BZ, which offers zero transactional fees for money transfers from Nigeria into Kenya. Sign up on BZ and start trading crypto easily today.

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