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Socios.com Receives Approval from Bank of Spain as Virtual Asset Service Provider

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According to reports, the fan token platform Socios.com has been approved by the Bank of Spain to register as a virtual asset service provider (VASP). Socios.com is allowed to prov

Socios.com Receives Approval from Bank of Spain as Virtual Asset Service Provider

According to reports, the fan token platform Socios.com has been approved by the Bank of Spain to register as a virtual asset service provider (VASP). Socios.com is allowed to provide encrypted asset transactions in Spain that meet the requirements of its Central Bank’s Anti Money Laundering and Counter Terrorism Financing (AML/CTF) rules, with registration effective March 21, 2023.

Socios.com approved for registration as a virtual asset service provider in Spain

Socios.com, the popular fan token platform that allows fans to interact with their favorite sports teams and players, has received approval from the Bank of Spain to register as a virtual asset service provider (VASP). This approval permits Socios.com to provide encrypted asset transactions in Spain that meet the requirements of its Central Bank’s Anti Money Laundering and Counter Terrorism Financing (AML/CTF) rules. The effective date of the registration is March 21, 2023.

What is Socios.com?

Socios.com is a blockchain-based platform that allows fans to purchase and trade digital tokens representing their favorite sports teams and players. These tokens, called fan tokens, give fans voting rights and exclusive rewards, such as access to merchandise, meet-and-greets with players, and VIP experiences. Socios.com currently works with over 30 sports organizations, including major soccer clubs such as FC Barcelona, Paris Saint-Germain, and Juventus.

Approval by the Bank of Spain

Socios.com’s approval by the Bank of Spain is a significant milestone for the platform as it expands its operations in the Spanish market. According to the Bank of Spain, Socios.com has met all the necessary requirements to register as a VASP, including strict AML/CTF regulations. This registration allows Socios.com to legally provide secure and transparent transactions for its Spanish users.

The Future of Socios.com

With this approval, Socios.com aims to expand its reach in the Spanish market and offer more sports organizations the opportunity to create their own fan tokens. The platform’s CEO, Alexandre Dreyfus, says that they plan to introduce new features in the coming months that will enhance the user experience and provide even more benefits to fans.

Conclusion

Overall, the approval of Socios.com as a VASP by the Bank of Spain is a significant milestone for the platform and its users. It not only provides a more secure and transparent platform for Spanish fans but also paves a path for Socios.com to expand its operations in other countries.

FAQs

1. What is a fan token?
A fan token is a digital asset that represents a fan’s association with a sports team or player. It gives fans exclusive rewards and voting rights.
2. How many sports organizations does Socios.com work with?
Socios.com currently works with over 30 sports organizations, including major soccer clubs such as FC Barcelona, Paris Saint-Germain, and Juventus.
3. What is the purpose of Socios.com?
Socios.com allows fans to connect with their favorite sports teams and players through digital tokens. It also provides exclusive rewards and voting rights.

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