Ripple (XRP) Partner SBI Established a Partnership with a New Altcoin, Price Moved!

According to The Block, Japanese banking giant SBI Holdings has partnered with a new altcoin.

This altcoin became the popular fan token Chiliz (CHZ).

Accordingly, SBI Digital Asset Holdings, the crypto asset arm of Japanese securities and banking giant SBI Holdings, announced its partnership with Chiliz (CHZ) to expand the sports fan token ecosystem in Japan.

In their joint statement, SBI and Chiliz team stated that they plan to establish a joint venture in the country to provide local fans in the country with access to the tokens of popular football clubs such as Manchester City and AC Milan.

SBI Digital Asset CEO Fernando Luis Vázquez Cao said:

“The partnership between SBI Digital Asse and Chiliz will bring together best-in-class capabilities from both traditional finance and Web3, leveraging fintech innovations to transform sports and entertainment experiences for communities.”

After the news, CHZ price started to rise.

SBI Digital Asset Holdings and Chiliz plan to forge joint venture partnership to bring leading sporting Fan Tokens to Japanese enthusiasts 🤝🇯🇵#ChilizChain ⚡ $CHZ pic.twitter.com/buHUcbiJu4

— Chiliz ($CHZ) – The Sports Blockchain ⚽🏆 (@Chiliz) May 9, 2024

*This is not investment advice.

Source