The Argentine Football Association (AFA) has unveiled a new five-year partnership with Binance which will see the cryptocurrency exchange platform become the global main sponsor of Argentina’s national soccer teams.

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However, the wide-ranging agreement, which also includes naming rights to the Argentinian top-flight Primera Division and designation as the official fan token of the AFA, has caused a rupture with rival blockchain firm Chiliz.

The AFA signed a naming rights deal with Chiliz last year that saw the Primera Division named ‘Torneo Socios.com‘ for the 2021/22 season and included the launch of a fan token on the Socios platform.

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Following the announcement of the AFA’s deal with Binance, Chiliz has said it will take legal action against the Argentinian national soccer body for a ‘flagrant breach of contract’.

According to Chiliz, the legal action is to protect the rights of the fans who acquired the ARG fan tokens.

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Meanwhile, the deal is Binance’s first global partnership with a national soccer body. The partnership will see the cryptocurrency exchange company launch a new non-fungible token (NFT) for the AFA, and secures Binance prime branding inventory across digital and physical national team assets.

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