Paris Saint-Germain Soccer Club to Launch Its Own Cryptocurrency

In the sports industry, cryptocurrency is enabling fans to participate in the decisions of their favorite teams.

Based in Malta, Socios is a tokenized sports voting platform that aims to increase engagement between fans and their favorite teams and players from around the world.

Major French soccer club Paris Saint-Germain confirmed a partnership with startup Socios to issue its own cryptocurrency, according to a press release.

Through the agreement, PSG will work with Socios to develop a Fan Token Offering in an effort to incentivize participation from the team's global fanbase.

The PSG fan token will be listed on the Socios.com platform.

PSG is the first "Official Branded Cryptocurrency Partner" to join the Socios platform.

Most notably, the tokens issued will enable mobile voting rights on select PSG decisions, such as the team's jersey choice or exhibition match opponents.

"The interest lies in the engagement of the fans, how we can provide them with a better experience. Not just to those attending the games but also to those in Asia, the U.S. and all over the world."

"Always at the forefront of digital innovation, Paris Saint-Germain is determined to leverage the opportunities that cryptocurrency can provide. This revolutionary technology will have an important impact on the club's overall business strategy and the way we engage with our fanbase."

With plans to issue its tokens by spring 2019, PSG may become the first soccer team in the world to operate a proprietary cryptocurrency.