Market News

EU Grants MiCA License to Chiliz, Boosting CHZ Token by 3.8%

Chiliz, a leading blockchain sports platform, has recently secured approval under the EU’s Markets in Crypto-Assets (MiCA) framework.

This approval permits the company to offer regulated crypto services across all 27 EU member states through its subsidiary, Socios Europe Services.

The MiCA license includes activities such as custody and exchange of digital assets, as well as token issuance and transfer.

With this regulatory backing, Chiliz aims to enhance investor protection and transparency, particularly for fans engaging with its fan-token ecosystem.

In conjunction with the licensing, Chiliz has launched a MiCA-compliant white paper for its native CHZ token, aligning with European Securities and Markets Authority guidelines.

This marks a significant step for Chiliz in providing clearer information regarding the risks and structures associated with its tokens.

Since the announcement, the CHZ token has seen a notable increase of 3.8%, rising from approximately $0.0406 to $0.0420 over a 24-hour period.

The trading volume during this time has decreased by over 30%, indicating that the price rise is likely fueled by steady buying rather than speculative trading.

As Chiliz prepares to shift its services to Socios Europe Services starting October 1, the company is poised to tap into a European market of over 400 million potential users.

This development not only reinforces Chiliz’s position in the sports and cryptocurrency sectors but also represents a broader commitment to regulated crypto operations within the EU landscape.