Ripple Partner SBI Holdings to Form Joint Venture in Japan with Chiliz for Sports Tokens

SBI Digital Holdings, a Ripple Labs partner, has revealed plans to deliver sports fan tokens to the Japanese market. The company announced a deal with Chiliz on May 9 to launch a sports and entertainment joint venture.

According to the statement, the digital arm of SBI Holdings will provide users with access to fan tokens from prominent clubs such as Arsenal, Barcelona, AC Milan, Manchester City, Inter Milan, and Paris Saint-Germain. This alliance will redefine user engagement in Japan by providing customers game-day functionality, as per Coingape.

“Collaboration will revolutionize the sporting experience for Japanese fans will all-new rewards such as game day activations and voting rights on fan-related decisions, including those of Paris Saint-Germain and FC Barcelona,” a part of the press release read.

SBI Holdings Seeks Innovations

SBI Holdings praised blockchain technology's benefits to the cryptocurrency community, emphasizing the fundamental ideals of new experiences. Fernando Luis Vasquez, CEO of SBI Holdings, emphasized the company's value in collaborating with companies that share similar ideals on blockchain technology.

“Technology is an enabler in the new world, and we are pleased to bring new experiences to the Japanese audience by working with strong players like Chiliz. The partnership between SBI DAH and Chiliz will bring together the best-in-class capabilities of both traditional finance and Web3, leveraging fintech innovations to transform the sports and entertainment experiences for communities,” he stated.

SBI Holdings has recently announced many cryptocurrency agreements. Last year, the business and Standard Chartered launched a $100 investment firm in Dubai focusing on cryptocurrency entrepreneurs. The collaboration included firms focused on infrastructure, DeFi, and tokenization.

Blockchain for Sports Fans

The Chiliz Group comprises Socios.com, a prominent network for sports fans that uses tokens to reshape user interactions with football clubs. The company highlighted SBI holdings' infrastructure and other perks.

SBI Holdings will join as a node operator in the chain, as both companies personalize user experiences.

Photo: Microsoft Bing

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