The deal, approved by the Miami-Dade Board of County Commissioners on Friday, is for $135 million over 19 years.

A cryptocurrency exchange could soon have its name emblazoned on the stadium of an NBA franchise.

FTX in Miami-Dade County has won the naming rights to the entertainment venue currently known as American Airlines Arena, home to the Miami Heat. The deal, approved by the Miami-Dade Board of County Commissioners on Friday, is for $135 million over 19 years.

The NBA still needs to approve the deal before it becomes official, FTX CEO Sam Bankman-Fried told CNBC. The NBA and The Heat declined to comment, CNBC said.