The London Football Exchange (LFE) has launched its own digital currency that aims to provide its members with the chance to participate in different fan and club experiences.

LFE’s cryptocurrency will be in form of LFE Points that is a blockchain-run loyalty program with offers and rewards.

In particular, participants can take advantage of rewards, exclusive promos, special discounts, and other incentives that can only be availed by holders of the LFE token.

Members can receive more LFE points by engaging with their favorite leagues and clubs regularly.

“Our vision is to allow football clubs to take advantage of the token funding economy for their financing needs,” said LFE Chief Executive Officer (CEO) Charles Pittar. “We do this by providing them with a tokenized financing infrastructure which involves token design and issuance services.”

The LFE platform will utilize Stellar and Ripple networks in facilitating transfers, trades, and issuance of tokens.

The platform’s Initial Coin Offering (ICO) shall accept major cryptocurrencies including Bitcoin, Ether, and Ripple as well fiat currencies such as Swiss Francs, Australian Dollars, British Pound, and US Dollars.

As part of its ICO, the platform will produce a total of 4 Billion digital tokens with 2.4 Billion tokens available for the general sale.

The price of each token is at $0.20 that will be equal to the capital target of around $350 million. The presale started last January 15 and will last until February 11, 2018.

CMS Law LLP is advising the LFE token sale.

“It is very exciting to advise LFE on establishing a business that is aiming to have an impact on the entire football industry using blockchain technology,” said Sam Robinson, a partner at CMS Law that advises the token sale of the platform. “As a firm, CMS has a particular focus on FinTech and we are delighted to be able to support businesses like LFE that are at the cutting edge of regulation and technology.”