Chiliz Chain, the leading blockchain for the sports and entertainment industry,  today announced a strategic partnership with Transfero Group and the integration of BRZ, the largest Brazilian Real-pegged stablecoin, into the Chiliz Chain ecosystem. This marks a significant milestone as the first stablecoin to be integrated into Chiliz Chain, reinforcing the company’s commitment to the Brazilian market and enhancing access to Fan Tokens for millions of sports enthusiasts.

The integration of BRZ, a stablecoin paired 1:1 with the Brazilian Real, will connect the global Fan Token market to Brazil’s thriving DeFi ecosystem. This move is set to stimulate the growth of the SportFi ecosystem in the country, offering Brazilian users a seamless entry point into the world of blockchain-based sports and entertainment experiences.

“Brazil represents a key market for Chiliz, with its passionate sports culture and rapidly growing crypto adoption,” said Bruno Pessoa, Brazil Country Manager for Chiliz. “By integrating BRZ and partnering with Transfero, we’re not just expanding our technological capabilities – we’re opening up new possibilities for millions of Brazilian fans to engage with their favorite teams through Fan Tokens.”

The partnership with Transfero Group, a leader in blockchain-based financial solutions, underscores Chiliz’s strategy to collaborate with best-in-class providers to enhance its offerings. Transfero’s expertise in stablecoin technology and its strong presence in the Brazilian market make it an ideal partner for this initiative.

Márlyson Silva, CEO of Transfero, commented on the partnership: “We’re thrilled to bring BRZ to the Chiliz Chain. This integration aligns perfectly with our mission to bridge traditional and decentralized finance. By connecting BRZ with Chiliz’s Fan Token ecosystem, we’re creating new opportunities for Brazilians to participate in the global SportFi movement.”

This development comes at a time of significant growth in Brazil’s crypto market. Recent data from Chainalysis indicates that stablecoin usage in Brazil has grown by 42% year-over-year, with stablecoins now accounting for approximately 70% of exchange flows. The BRZ integration is set to go live by October 2024, with further announcements regarding specific features and Fan Token initiatives to follow.

Source : Chiliz - Oct 16, 2024