Global Fan Token Providers Chiliz and Socios Launched Visa Debit Card
August 17, 2020 5:41 pm
Blockchain tech Chiliz.net and Socios.com now powers global fans to “be more than a fan”, specializing in blockchain-based fan tokens are rolling out their Visa debit card.
On Aug. 14, as officially announced, the Socios.com Visa debit card enables global fans to “be more than a fan” receive fan tokens, powered financial rewards and club-related privileges from making purchases through the card.
The CEO at Chiliz and Socios, Alexandre Dreyfus, stated that the new debit card is now being examined by a limited pool of users. Per the executive of the Socios.com, in early Q3 2020, visa debit Card will roll out for mainstream users.
According to the report, the Socios.com Visa debit card will be initially available in 26 countries in the European Economic Area and alongside featuring rewards in fan tokens like FC Barcelona Fan Tokens (BAR), the card will support payments for goods and services similar to any regular credit card, users will be able to top up the balance and make payments with the British pound and euro.
The official statement says that the new card will be available to all users on Socios.com, Dreyfus highlighted that fans will need to collect fan tokens to order the card, but the minimum amount of tokens for ordering has not been disclosed yet.
In late July 2020, after Socios secured a major regulatory license allowing it to issue a loyalty and payments card, the Socios.com Visa debit card introduced. The card was initially released in February 2020 as a prepaid crypto-fiat card and the Estonian Financial Intelligence Unit issued the license to a new Estonia-based entity called Socios Entertainment OU.
Chiliz and Socios have been cementing their leadership as global fan token providers. In July, Mercado Bitcoin, Brazil’s largest cryptocurrency exchange listed Chiliz token (CHZ) and allowing users to make CHZ deposits with the Brazilian real.
In June 2020, Chiliz and Socios sold $1.3 million worth of FC Barcelona’s fan tokens in less than two hours.