In its latest move to consolidate its presence in key markets, Socios.com has scored regulatory approval from regulators in Italy regulators. The fan token creator platform shared the announcement today on its blog post.
After satisfying the requirements from Organismo Agenti e Mediatori (OAM), Socio.com can now operate in the country. Coinbase and Binance also have licenses from the OAM to operate in Italy.
The leading blockchain provider for the sports industry can now operate as a service provider of virtual currencies and digital wallets in Italy. The nod from the Italian regulators will allow the firm to establish its presence in the region and further its expansion plans.
Interestingly Socios.com already has a presence in the country with several partnerships in the country. Its partners include Italian Series A and other leading clubs like Juventus FC, AC Milan, Inter Milan, Roma, and Napoli.
Socios.com is also the official partner of the Italian national football team for fan engagement and rewards. It will also support the launch of the $ITA fan token for the Italian national football team.
According to Socios.com’s CEO, Alexandre Dreyfus, Italy is a crucial market for the platform. He said the nod from OAM is key to consumer protection and building fan engagements in the region. Therefore the platform will continue working with regulators to guarantee the legitimacy and trust of its customers.
Earlier in February, Socios.com reached an agreement with UEFA making it the fan token partner of all UEFA’s club competitions. The partnership will see it enjoy brand exposure for three years to boost its fan engagement platform.
Socios.com is a first-of-its-kind mobile app for sports fans. It allows fans to purchase branded fan tokens from some of the world’s most renowned sports clubs. With these tokens, fans can influence their teams via popular vote.
Socios.com has partnerships with over 120 supporting organizations through fan tokens.
Following the positive developments in the Socios.com ecosystem, Chiliz (CHZ), its native token continues to make significant leaps. Currently, it trades for $0.22 and is expected to rise with the footballing season especially with the UEFA champions league now in session.
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