Brazil's Top Exchange Mercado Bitcoin Lists Sport Token Chiliz

Mercado Bitcoin, the largest crypto trading platform in Brazil, will soon roll out Chiliz trading against the local currency, Brazilian real.

Chiliz token is the first utility token listed on Mercado BitcoinAs officially announced on July 13, Mercado Bitcoin users are already able to make Chiliz deposits with BRL. Trading will be launched on July 14.Chiliz token is the seventh digital currency supported on Mercado Bitcoin exchange.

According to data from CoinMarketCap, the platform features major cryptos like Bitcoin, Ether, XRP, Bitcoin Cash, Litecoin, and USD-pegged stablecoin USDC. However, Mercado Bitcoin offers mono trading pairs for Chiliz against the local fiat currency.

This means that the Chiliz token will be only tradeable against BRL.Alexandre Dreyfus, CEO at Chiliz.net and partner project Socios.com, told Cointelegraph that Chiliz is the first utility token supported on Mercado Bitcoin.

In contrast to traditional cryptos like BTC or ETH, Chiliz token enables holders to participate in major sport-related activities like fan-led voting at football clubs.

Fiat onramp for Chiliz in BrazilDreyfus continued that the listing marks the introduction of a new fiat onramp for Chiliz in Brazil.

The feature has been available since Binance listed CHZ in September 2019.Brazil is among the world's best football playersBy introducing CHZ to the Brazilian market, Chiliz is apparently expecting to benefit from a local crypto boom as well as the country's love of football - the most popular sport in Brazil.

Mercado Bitcoin is one of the most popular exchanges in the world.

According to Dreyfus, Mercado Bitcoin is the largest crypto exchange in Brazil and accounts for 40% of the region's market share.

Chiliz is known as one of the most popular token platforms for sports and entertainment, having launched fan tokens with massive global soccer clubs like FC Barcelona, Juventus and Paris Saint-Germain.