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Finance

Binance Becomes New Shirt Sponsor of Italian Soccer Club Lazio

The world’s largest crypto exchange is also introducing a platform for the trading of tokens linked to soccer clubs.

By Jamie Crawley
AccessTimeIconOct 13, 2021 at 12:39 p.m. UTC
Updated May 11, 2023 at 7:03 p.m. UTC
Flag of Italian soccer club SS Lazio
Flag of Italian soccer club SS Lazio

Binance, the world’s largest crypto exchange by trading volume, is to become the main shirt sponsor of Rome-based soccer club SS Lazio.

  • The deal will last for two years with the option of a third and is worth up to €30 million ($35 million), the club announced Wednesday.
  • Binance is also introducing a platform for the trading of tokens linked to top soccer clubs, with Lazio as the launch partner.
  • The LAZIO token is now available on Binance Launchpad with 40 million on sale for a total of $4 million. Access will be available in due course via spot trading, bank card purchases and peer-to-peer trading.
  • Binance has previously listed tokens of rival Italian soccer team AC Milan in partnership with Chiliz. It now appears to be taking a more direct role with its own fan token platform.
  • Fan tokens aim to spur greater engagement between clubs and their supporters with the opportunity to access VIP experiences and other rewards.
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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Jamie Crawley
    Jamie Crawley

    Jamie Crawley is a CoinDesk news reporter based in London.

    Follow @JamieCrawleyCD on Twitter