Verified on Created with Sketch. Verified on

eToro Signs U.K. Football Clubs in Sponsorship Deals, Pays With Bitcoin


        eToro Signs U.K. Football Clubs in Sponsorship Deals, Pays With Bitcoin
eToro Signs U.K. Football Clubs in Sponsorship Deals, Pays With Bitcoin

Global investment platform eToro has partnered with British Premier League clubs in a sponsorship deal that could see future transfers of players in the English Premier League (EPL) settled in cryptocurrency.

The seven clubs involved in the trial are Tottenham Hotspur, Leicester City, Southampton, Cardiff City, Brighton, Newcastle United and Crystal Palace.

Speaking with Bitcoin Magazine, eToro U.K.’s Managing Director Iqbal Gandham said that one of the reasons why they partnered with the clubs was to increase awareness of bitcoin and the potential of the blockchain.

"The blockchain technology that underpins cryptocurrencies such as bitcoin brings transparency and efficiency. There are many industries already experimenting with using blockchain technologies for contracts and football transfers would be a logical area to consider embracing this new technology."

The clubs have agreed to set up a digital wallet on the platform in a trial that could see the British Pound Sterling (GBP) replaced with cryptocurrency as the currency of choice for player transfers in the Premier League.

"We've done a sponsorship deal, but rather than pay them in traditional pound notes we've paid them in bitcoin," Gandham told the Telegraph.

In turn, eToro expects to gain global exposure through an extensive range of "marketing opportunities" including player access and LED boards in the stadiums.

For Gandham, there are so many use cases for cryptocurrencies in football, but he sees ticket touting, counterfeit merchandising and improving the transparency of the transfer market as some of the focus areas where it could have an impact.

CEO of Brighton & Hove Albion F.C. Paul Barber said he was ecstatic about the pilot program which affords his club the opportunity to "better understand the true potential offered by blockchain.”

Premier League clubs have been flirting with cryptocurrency for a while. Earlier this year, Arsenal F.C., one of the most recognized football teams in the U.K., signed a sponsorship deal with Cashbet, a blockchain-powered iGaming platform, which saw the football club promote the firm's ICO at its stadium.


New Samsung Galaxy S10 Includes Baked-In Storage for Private Keys

Samsung announced on February 21, 2019, that their newest phone, the Galaxy S10, will include secure storage for its users’ cryptocurrency private keys.

Landon Manning

Lightning Torch’s Bitcoin Payment Is Running a Worldwide Marathon

The experiment has been making an impression on the bitcoin community; so far, Andreas Antonopoulos has been in on it, as has Twitter co-founder Jack Dorsey who took up the flame from Matt Odell.

Colin Harper

Living on Bitcoin for a Week in San Francisco

Our reporter Colin Harper experimented with living on bitcoin for a whole week in San Francisco last month. Here is a summary of his experience.

Colin Harper

Wrap Your Head Around This: BTC Is Now Featured as a Token on Ethereum

Wrapped Bitcoin, an ERC-20 token tied 1-1 with bitcoin, is live, and it's setting big expectations for itself out the gate.

Colin Harper