eToro, the UK-based trading platform inks an advertising deal to be paid in Bitcoin with seven Premier League football clubs. The deal that took over six months to finalize, sees eToro partner with UK clubs Tottenham Hotspur, Crystal Palace, Newcastle United, Southampton, Leicester City, Brighton & Hove Albion and Cardiff City,
On Tuesday, August 21 a press release announced the first of its kind integration of cryptocurrency in football stadiums. The exact nature of the “exploration,” hasn’t been disclosed by any party. The managing director of eToro for the U.K., Iqbal V. Gandham states:
“The blockchain technology that underpins crypto currencies 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,” He added “This is very much the first step on a long road to football fully embracing bitcoin and the underlying blockchain technology.”
The current deal marks a major milestone in the incorporation of cryptocurrency into mainstream football. The integration has been initiated for a while, with few instances here and there, like the hiring of a professional player for bitcoin by Harunustaspor, Turkey, in January this year. Last week, UEFA, the Union of European Football Associations, announced that it plans to employ a Blockchain-based ticketing system as part of a phased rollout.