eToro to Pay for Major UK Soccer Sponsorship Deal With Bitcoin

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Online investment system eToro has inked a deal which will see that he pays bitcoin to the sponsor groups inside the UK’s top soccer league. The Israel based firm said in a news release which, with the help of sport marketing agency SportQuake, it’s entered new ventures with seven Premier League football clubs for a selection of sponsorship assets, such as access to players, digital rights, tickets, Light-emitting diode perimeter boards and interview backdrops. Planned and finalized over 6 months, the deal sees eToro partner with Tottenham Hotspur, Newcastle United, Crystal Palace, Leicester City, Southampton, Brighton & Hove Albion and Cardiff City, also claim it’s the first brand to pay for a Premier League partnership in bitcoin.” .

Iqbal V. Gandham, eToro’s controlling your stresses director for the U.K., stated. The blockchain technology which underpins crypto currencies such as bitcoin brings transparency, which we think may improve the experience for everybody that loves the beautiful game from lovers being targeted at ticket touts, or a club negotiating a move, we believe blockchain will revolutionise the world of soccer” . The move to finance the sponsorship deal with bitcoin will possibly come as little surprise. As far back as January 2014, eToro became an early adopter of the cryptocurrency, opening bitcoin trading for its then 3 million consumers. Early in 2017, the business moved to permit clients to purchase or sell XRP, ether and litecoin on its platform.

On the other hand, the investment only service didn’t permit them for entering or removing crypto-converters from their accounts. Then, in May 2018, the company announced it is launching a fully fledged cryptocurrency exchange with a pocket support and the accession of the dash, bitcoin money, stellar, ethereum classic, NEO and EOS cryptocurrencies. The announcement also saw clients in the U.S. Get access to cryptos on the stage for the first time. Only yesterday, the token of the IOTA project was added to the stage. Premier League football picture via Shutterstock. The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Sources:
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