Crypto Trading Platform eToro Pays For Football Sponsorship Deals With Bitcoin

Announcements, Blockchain, News | August 22, 2018 By:

Social trading network eToro has signed an advertising deal with seven Premier League football clubs paid using bitcoin.

Founded in 2007, eToro is a regulated global brokerage firm for trading cryptocurrencies, stocks, commodities, ETFs and more. It has created a global community of more than ten million registered users who share their investment strategies and anyone can follow the approaches of those who have been the most successful. The platform allows investors to hold commodities, stocks, ETFs and cryptocurrencies, such as bitcoin and ethereum, alongside thousands of other financial instruments all in one portfolio.

In a press release, eToro said seven Premier League football clubs, Tottenham Hotspur, Leicester City, Newcastle United, Southampton, Cardiff City, Brighton and Crystal Palace, have agreed to set up digital wallets with the trading platform. As a partner of these seven football clubs, eToro will gain global exposure through an extensive range of marketing opportunities including matchday LED boards, player access, tickets and digital rights.

Iqbal V. Gandham, UK Managing Director at eToro, claims that eToro is “the first brand to pay for a Premier League partnership in bitcoin.”

“Today’s announcement is the first small step on a long road to football fully embracing blockchain technology,” said Gandham. “Education will be key so that industries can understand the potential and so getting global exposure through these Premier League clubs represents a great opportunity to raise awareness. Blockchain brings transparency, which means it can improve the experience for everyone who loves the beautiful game.”

SportQuake founder and CEO Matt House, who planned and negotiated the deal, said that research showed strong synergies between eToro and the Premier League.

“Through a properly planned and bought campaign, eToro could steal a march on their competitors and put the brand, bitcoin and blockchain at the heart of the Premier League conversation worldwide,” House said.

While eToro claims that it is the first company to pay football club deals with crypto, it is not the first firm to sign an advertising deal with a Premier League football club. In January of this year, Arsenal became the first major football club to agree to promote a cryptocurrency business when it signed a sponsorship deal with CashBet Coin.