Chiliz’s sports-focused platform Socios.com has received in-principle approval from the Malta Financial Services Authority (MFSA) for a Class 3 Virtual Financial Assets Act (VFAA) license. This license allows Socios.com to offer digital asset services and hold or manage client assets as a regulated provider of virtual financial assets (VFA).
With this approval, Socios.com is now positioned as a compliant and trustworthy platform in the blockchain space, according to Chiliz CEO Alexandre Dreyfus. He described the approval as a “significant milestone,” underscoring Chiliz’s commitment to regulation and transparency within the SportFi industry.
The Class 3 VFAA license permits Socios.com to provide various VFA services, though it cannot operate as a VFA exchange. Chiliz aims for regulatory alignment across regions, with Socios.com following financial standards in the UK, Lithuania, and countries like Spain and Italy, aligning with the European Union’s upcoming Markets in Crypto–Assets Regulation (MiCA), effective in 2025.
Summary Review: Socios.com, a platform by Chiliz, has gained a provisional license in Malta to offer digital asset services and manage client assets. This approval supports its commitment to regulatory compliance in the SportFi sector, as the company works toward meeting standards across the EU and beyond, including MiCA regulations set for 2025.
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