Transak, a web3 payments infrastructure provider, has recently broadened its services to include Chiliz ($CHZ), the native cryptocurrency of the sports blockchain platform Chiliz. This new collaboration aims to provide easier access to Chiliz’s Fan Token ecosystem, allowing fans to participate in token-based initiatives more seamlessly.
Transak is known for its payment and onboarding services, which facilitate the buying and selling of digital assets for users. By handling tasks such as know-your-customer (KYC) obligations, risk surveillance, and compliance, Transak ensures a smooth experience for its customers. The company serves prominent crypto wallet providers like MetaMask and Coinbase Wallet, and has partnered with Visa Direct to enable users to convert their crypto holdings into fiat in nearly real-time.
Sami Start, the CEO of Transak, emphasized the importance of simplifying access to cryptocurrencies for mainstream adoption. By listing Chiliz on its platform, Transak aims to lower the barrier of entry into the world of fan tokens for sports enthusiasts. This partnership with Chiliz opens up new opportunities for a wider user base to engage with fan tokens, ultimately driving the growth of the sports and entertainment token market.
The integration of Chiliz into Transak’s services is expected to enhance the user experience for fan token enthusiasts. Alexandre Dreyfus, the CEO of Chiliz and Socios.com, highlighted the importance of providing fans with a seamless and effortless way to acquire CHZ and their favorite Fan Tokens. Working with Transak represents a significant step forward in achieving this goal, as it opens up new avenues and markets for Chiliz.
Chiliz Chain and Future Developments
Chiliz operates on the Chiliz Chain, which is a layer-1 blockchain designed to be the preferred blockchain for sports franchises. Originally a fork of the Binance Smart Chain, the Chiliz Chain utilizes a staking-based consensus mechanism and is powered by its native CHZ token. This infrastructure allows sports organizations to leverage blockchain technology and fan tokens to enhance fan engagement and monetization strategies.
The collaboration between Transak and Chiliz represents a significant advancement in the world of sports blockchain and fan tokens. By simplifying access to Chiliz’s ecosystem and expanding the reach of fan tokens, both companies are paving the way for increased mainstream adoption of cryptocurrencies in the sports industry. With a focus on user experience and market expansion, this partnership is poised to bring forth new opportunities and innovations in the sports and entertainment token space.