Chiliz obtains Europe's first Markets in Crypto-Assets (MiCA) authorization

Uk Jin

Summary

Chiliz announced it obtained the first Markets in Crypto-Assets (MiCA) authorization in Europe.
SES stated that with authorization from the Malta Financial Services Authority, it can provide regulated crypto-asset services across the 27 member states of the European Union.
Chiliz published a regulatory-compliant white paper for the CHZ token, strengthening trust and transparency in the European market.

Global sports and entertainment blockchain company Chiliz (CHILIZ) announced on the 16th that it has obtained the first Markets in Crypto-Assets (MiCA) authorization in Europe in the SportFi field and published a regulatory-compliant white paper for the Chiliz token.

Chiliz's subsidiary Socios Europe Services Limited (SES) has obtained a Markets in Crypto-Assets (MiCA) authorization from the Malta Financial Services Authority (MFSA), enabling it to provide regulated crypto-asset services across the 27 member states of the European Union. As a result, over 400 million European fans are expected to be able to purchase or trade fan tokens more securely within a regulated environment via Socios.com.

The scope of the authorization includes custody and management of crypto-assets on behalf of customers; exchange between crypto-assets and funds; issuance and placement of crypto-assets; and transmission services on behalf of customers.

From October 1, crypto-asset related services on the Socios.com platform will be transferred to SES, and users will be able to view the newly established complaint handling procedures, platform terms, wallet terms of use, and other documents in the Legal Hub.

Following the MiCA authorization, Chiliz also published a MiCA-compliant white paper for the Chiliz (CHZ) token. The white paper was released after undergoing the registration procedures in accordance with guidance from the European Securities and Markets Authority (ESMA) and contains detailed information about the token. Registration procedures for white papers for individual fan tokens are also being carried out sequentially through the MFSA.

Alex Dreyfus, CEO of Chiliz, said, "Obtaining the MiCA authorization is an achievement that demonstrates Chiliz's vision of leading Web3 innovation in the sports and entertainment sector," adding, "With the publication of the white paper, we provide transparency and trust to all ecosystem participants. This achievement will be an important turning point for the SportFi ecosystem to experience new growth in Europe."

CHZ