Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Exclusive - Transak adds Chiliz support to simplify acquisition process

Published 04/02/2024, 09:17 AM
Updated 04/02/2024, 09:17 AM
© Reuters.

Web3 payments infrastructure provider Transak has expanded its offerings to include Chiliz ($CHZ), the native cryptocurrency of the sports blockchain platform Chiliz, has learned.

The collaboration facilitates access to Chiliz's Fan Token ecosystem, offering fans a direct gateway to participate in its token-based initiatives. The integration also broadens the scope for sports enthusiasts to engage with fan tokens while simplifying access to cryptocurrencies for wider adoption. 

Transak provides payment and onboarding services that enable users to buy and sell digital assets, taking care of the know-your-customer (KYC) obligations, risk surveillance, and compliance for its customers. It serves major crypto wallet providers like MetaMask and Coinbase (NASDAQ:COIN) Wallet and also joined Visa (NYSE:V) Direct to enable users to convert their crypto holdings into fiat in nearly real-time.

“This partnership is a significant move for both companies, unlocking a wider user base of sports fans to enter the world of fan tokens. "We believe that simplifying crypto access is a crucial step in mainstream adoption," said Sami Start, CEO of Transak. "By listing Chiliz on Transak, we further lower the barrier to entry for the rapidly flourishing world of sports and entertainment fan tokens."

The integration of Chiliz will also enhance the user experience for fan token enthusiasts. "We're constantly working to ensure fans have a seamless and effortless way to acquire CHZ and their favorite Fan Tokens. Working with Transak is a major step forward in that mission. This integration opens up new avenues and markets for us," added Alexandre Dreyfus, CEO of Chiliz and

The Chiliz Chain is a layer-1 blockchain that aims to be the preferred blockchain for sports franchises. It originated as a fork of the Binance Smart Chain and employs a staking-based consensus mechanism that uses its native CHZ token.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.