eToro, a multi-asset trading platform based in Israel has entered into an official partnership with Newcastle United and six other English Premiership football clubs. This partnership, among others, is a unique one as its one that binds cryptocurrencies and football, opening a massive door of widespread global adoption.
eToro Partnership with English Premiership Clubs
eToro who’s not new to soccer sponsorship in the past in its latest sponsorship deal to partner with Newcastle United and six other football clubs. The sponsorship as announced through a press release will lead to an increase in the awareness of the trading platform with new marketing opportunities.
What’s more, payment for these deals would be made using Bitcoin, the pioneer cryptocurrency. The partnership is what could be described as an inaugural or maiden of the widespread of cryptocurrency into sports.
Previously eToro has been in partnership with a Premier League club. Its first partnership with an English football club was in the year 2013. The partnership was sealed with three years dealing with the West Ham United, an English football club.
eToro a Global Trading Platform Promoting Cryptocurrency
The Israel-based global trading platform is the first non-blockchain based platform to introduce cryptocurrency trading to its users in 2014. It was launched as RetailFX in 2006, registered and backed by Cyprus Exchange Authority and the UK authority.
The introduction of Bitcoin to its platform in 2014 has been furthered, introducing 11 more cryptocurrencies for trading. Recently IOTA, the revolutionary cryptocurrency created for the Internet of Things was added to its platform to make a total of 12 assets in all.
The cryptocurrencies supported by the platform are Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Ripple (XRP), Litecoin (LTC), Ethereum Classic (ETC), Dash (DASH), Stellar (XLM), EOS (EOS), Cardano (ADA), NEO (NEO) and IOTA.
Speaking on the choice of cryptocurrency to pay its sponsorship deal the managing director for the company’s U.K. branch, Iqbal V. Gandham stated:
“The blockchain technology that underpins cryptocurrencies like Bitcoin brings transparency, which we believe can improve the experience for everyone who loves the ‘beautiful game’, from fans being targeted by ticket touts, or a club negotiating a transfer, we believe that blockchain will revolutionise the world of football.”
The new partnership with Newcastle United and six other clubs which are Tottenham Hotspur, Crystal Palace, Leicester City, Southampton, Brighton & Hove Albion and Cardiff City is expected to unite cryptocurrency with the game of football, which could cause the global adoption that’s been much anticipated much earlier than we think.