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Binance-Backed Chiliz Partners With UFC to Bring Cryptocurrency to Global Audience

May 07, 2020

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UFC, the world’s premier mixed martial arts (MMA) organization, and fintech company Chiliz have announced an exclusive global partnership to introduce cryptocurrency to the masses.

Chiliz, backed by Binance, completed a private placement in 2018, and subsequently launched its digital currency (CHZ) for sports and entertainment fans.

The crypto asset is designed to power a voting platform that allows fans to have direct input on the direction of their favorite sports organizations. UFC says it will utilize the token to allow its fans to vote in club-designated polls and earn “once-in-a-lifetime experiences.”

Those experiences include access to exclusive UFC offers and rewards, as well as early access to ticket sales.

Alexandre Dreyfus, CEO of chiliZ, has indicated that Binance’s investment in chiliZ is significant and that support from the world’s leading cryptocurrency exchange, which includes shared resources, is allowing the fintech to accelerate its global vision of building a regulated ecosystem of innovative fintech and blockchain companies in the entertainment space.

According to the announcement,

“The partnership will also enable UFC to capitalize on Chiliz fintech expertise in the sports space, creating further opportunities to grow the UFC brand and increase fan engagement through innovative blockchain, tech, and mobile app solutions.”

UFC is the world’s leading mixed martial arts organization (MMA), with over 318 million fans around the globe.

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