Chiliz’ Socios.com Secures Regulatory Approval in Malta

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Key Takeaways

Socios.com has also secured various regulatory approvals internationally, including registration in Italy, Spain, and Indonesia
Operating with around 100 staff members in Malta, Socios.com aims to solidify its role in Europe

Blockchain-based sports engagement platform Socios.com, owned by the Chiliz Group, has received in-principle approval from the Malta Financial Services Authority (MFSA) to operate as a crypto service provider.

Socios.com CEO Alexandre Dreyfus called the MFSA’s approval a “significant milestone” that underscores the platform’s commitment to regulatory standards in the blockchain and sports finance (SportFi) sectors.

“As pioneers in SportFi, we recognize that the highest standards of regulation and transparency are necessary to build trust with all stakeholders in our ecosystem,” Dreyfus said. “With this key step, we’re eager to continue driving innovation in Web3 and sports entertainment while upholding the highest regulatory standards.”

The platform, known for connecting fans with sports teams through digital assets such as fan tokens, has secured various regulatory approvals internationally, including registration in Italy, Spain, and Indonesia, and a Virtual Asset Service Provider (VASP) license in Lithuania. These approvals come as Socios.com prepares for the European Union’s forthcoming Markets in Crypto-Assets Regulation (MiCA), set to take effect in 2025.

Operating with around 100 staff members in Malta, Socios.com aims to solidify its role in Europe as part of Chiliz’s long-term strategy to comply with evolving regulations. The regulatory environment in Malta has also attracted other industry players, including crypto exchange OKX, which plans to expand its EU operations from the country, leveraging its Class 4 license to offer virtual asset services and custodial solutions under MiCA.