Transak teams up with Chiliz to simplify sports fans’ crypto access

Users can now purchase $CHZ tokens on Transak with web3-compatible wallets like MetaMask

Transak, a platform widely used for accessing cryptocurrencies, has announced its partnership with Chiliz ($CHZ), a digital currency popular among sports and entertainment fans.

This collaboration aims to streamline the process of purchasing transactions, making it easier for users to engage with Chiliz’s Fan Token ecosystem.

Sami Start, the CEO of Transak, emphasized the importance of simplifying access to cryptocurrencies for mainstream adoption.

By integrating Chiliz into its platform, Transak aims to lower the barrier for sports and entertainment enthusiasts to enter the world of fan tokens.

Alexandre Dreyfus, CEO of Chiliz and Socios.com, echoed this sentiment, stating that the partnership with Transak will provide fans with a seamless way to purchase $CHZ and Fan Tokens, opening up new markets for both companies.

To purchase $CHZ tokens on Transak, users need a web3-compatible crypto wallet such as MetaMask. They can then visit the Transak platform, select $CHZ as their preferred cryptocurrency, and enter the desired amount of $CHZ they wish to acquire. Once the transaction is completed, users will receive their $CHZ directly into their web3-compatible wallet.

Transak offers payment and onboarding services, ensuring compliance with know-your-customer (KYC) obligations and risk surveillance. Transak serves major crypto wallet providers like MetaMask and Coinbase Wallet, and has joined Visa Direct to enable users to convert their crypto holdings into fiat currencies in nearly real-time.

Overall, the integration of Chiliz into Transak’s platform is expected to enhance the user experience for fan token enthusiasts while unlocking new opportunities for sports fans to engage with Chiliz’s ecosystem.

Recent research conducted by academic experts from top European universities highlighted the significant impact of Fan Tokens on sports engagement. These digital assets, pioneered by Socios.com and the Chiliz ecosystem, strengthen fan attachment to teams, foster a sense of exclusivity, and facilitate democratic communication between fans and clubs.

Despite some skepticism, Fan Tokens are transforming fan engagement by integrating elements of play and enhancing interaction between clubs and supporters, emphasizing the importance of innovation in the evolving landscape of sports technology.

In a recent interview, Alexandre Dreyfus, CEO of Chiliz and Socios.com, discussed the future of fan tokens in sports, revealing plans for Socios.com expansion and the launch of a non-custodial wallet. He also emphasized the global impact of fan tokens and expressed optimism about their continued evolution across various industries.

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Written by Silvia Pavlof

Silvia has explored various forms of writing, ranging from content creation for social media to crafting movie scripts. Drawing on her experience as a journalist specializing in the gambling sector, she is currently investigating the impact of cryptocurrencies and blockchain on traditional gambling and iGaming.

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