The collaboration will enable Chiliz to adopt blockchain and allow instant payments, prepaid gift cards, and micro-transactions for digital services, the sport entertainment-focused digital currency said in a press release.
“Sports is the perfect vehicle through which to educate mass consumers about the potential and the utility of blockchain technology,” said Binance CEO Changpeng Zhao.
Alex Dreyfus, CEO of Chiliz and Socios.com, also noted that the integration of Binance Chain will increase Chiliz’s access to the large liquidity pool of the Binance community.
“Through Socios.com, we will highlight blockchain to a more mainstream audience – an addressable audience of 3.5 billion fans around the world – as well as allowing global brands and household names the chance to access the crypto space,” he added.
Chiliz ($CHZ) is a cryptocurrency that fuels blockchain-supported products that have casual, mainstream consumers as their target audience.
It currently powers Socios.com, which is a mobile application that allows football fans to acquire voting rights to influence their preferred clubs.