Football Team Paris Saint-Germain (PSG) Forms Strategic Partnership With Socios Cryptocurrency Firm

On Tuesday, the French football team Paris Saint-Germain (PSG) announced the formation of a “multi-year strategic partnership” with the cryptocurrency firm Socios.

As a result of the transaction, Socios becomes “the official branded cryptocurrency partner” of  Paris Saint-Germain. However, neither side indicated which amounts were involved in this transaction.

The Paris Saint Germain football team plays at the highest level of the French football league and has been hailed as the country’s “most popular” team. The club is owned and funded by the state investment company of Qatar and is the record holder for the highest transfer commission paid when buying Brazilian football star Neimar from Barcelona in 2017 at a rate of $ 263 million.

Paris Saint-Germain said that it will work with the platform on the strategy for developing the world’s first token offer for football fans. According to this system fans of Paris Saint-Germain will be able to purchase “tokens” and use them.

Tokens will be available directly in the Socios application or by purchasing tokens on the Chiliz chassis, which can then be converted into Paris Saint-Germain currency.

The launch is scheduled for the spring of 2019, and the club plans to provide fans with more information about the scheme before that they are fully prepared for crypto start.