Transak, a Web3 payments infrastructure provider, has recently announced the expansion of its services to include Chiliz ($CHZ), the native cryptocurrency of the sports blockchain platform Chiliz. This collaboration aims to provide fans with easier access to Chiliz’s Fan Token ecosystem, allowing them to participate in various token-based initiatives.
The integration between Transak and Chiliz not only enables sports enthusiasts to engage with fan tokens but also simplifies the process of accessing cryptocurrencies for a wider audience. By offering payment and onboarding services, Transak ensures that users can buy and sell digital assets while complying with necessary regulations such as know-your-customer (KYC) obligations and risk surveillance. This partnership marks a significant move for both companies, as it opens up new possibilities for sports fans to enter the world of fan tokens.
The integration of Chiliz into Transak’s platform is expected to enhance the user experience for fan token enthusiasts. By working together, both companies strive to provide fans with a seamless and effortless way to acquire CHZ and their favorite Fan Tokens. This collaboration not only benefits existing users but also opens up new avenues and markets for Chiliz and Socios.com, the platform behind Chiliz.
Chiliz is built on the Chiliz Chain, a layer-1 blockchain that aims to become the preferred blockchain for sports franchises. Initially a fork of the Binance Smart Chain, the Chiliz Chain utilizes a staking-based consensus mechanism that revolves around its native CHZ token. This technology infrastructure enables Chiliz to offer unique solutions to the sports and entertainment industry, paving the way for further innovation and development in the field of fan tokens.
The partnership between Transak and Chiliz signifies a step towards mainstream adoption of cryptocurrencies, particularly in the realm of sports and entertainment. By simplifying access to digital assets and fan tokens, both companies are working together to create a more inclusive and user-friendly environment for sports fans around the world. This collaboration sets a precedent for future integrations and partnerships within the cryptocurrency space, highlighting the potential for growth and expansion in the industry.