In a recent announcement, it was revealed that the high-frequency trading company based in Chicago, Jump Trading, has made an equity investment in Chiliz. The blockchain-based sports platform Chiliz has finalised an equity investment of an unrevealed amount from Jump Trading LCC.
Jump Trading Makes Equity Investment in Sports Fan Token Platform Chiliz
Jump Trading, a dominion trading company, was founded around 20 years ago by Paul Gurinas and Bill DiSomma, the Chicago Futures pits veterans.
In recent times, the firm has been engaged in the crypto space alongside its broader activities in options, global futures, and equities markets.
The company declares its specialization in high-frequency trading and algorithmic strategies and has apparently been market making for sports fan token platform Chiliz.
CHZ, the native token of Chiliz, has witnessed a significant bull run and along with that, it has witnessed its all-time high this year.
The CEO of the sports fan token platform Chiliz, Alexandre Dreyfus has recently stated:
“The support of Jump Trading into the Chiliz and fan tokens ecosystem is a recognition for the sports crypto space […] It is also an interesting move, as we firmly believe that fan tokens are a much, much, bigger market than NFTs and digital sports collectibles.”
In addition to this, Alexandre revealed that the firm is currently targeting developing the technology platform and providing utility for the holders of sports fan tokens through its mobile application named Socios.com.
Dreyfus addressed the support of Jump Trading and said:
“Having the support of Jump Trading for the liquidity and network effect of our marketplace is definitely a big upside. Their expertise and resources will help us and clubs to grow this industry globally, as it is a global game.”
Plans For a $50 Million Expansion in New York
Chiliz recently onboarded new club partners such as Manchester City, FC Barcelona, AC Milan, and in addition to this, revealed plans for a $50 million expansion.
The firm is planning to set up an office in New York and strive to hammer out ties with North American leagues and sports franchises.
Moreover, the firm has also joined hands with the cryptocurrency exchange Binance in a long-term strategic partnership.