Binance, the world’s
largest cryptocurrency exchange, has signed its first sponsorship agreement
with a national football team.
The digital exchange just entered into a five-year deal with the Argentine Football Association (AFA), Insider Sport reports.
The is coming five months after Binance entered into a
partnership agreement with the Confederation of
African Football, becoming the exclusive cryptocurrency and blockchain sponsor
of the African Cup of Nations.
This new deal names the
Cayman Islands-headquartered exchange as the main global sponsors of Argentina’s national teams.
The partnership also
means that the Binance Coin (BNB), a token created by Binance in 2017, will
become the only official fan token of the AFA while the partnership lasts.
Maximiliano Hinz,
Binance’s General Director for Latin America, has said that the partnership will bring more technology and innovation to the Argentine sports industry and
millions of fans.
The move will also
“expand crypto adoption for the benefits of users, the cryptocurrency and
blockchain community, and society in general,” Hinz explained.
Claudio Tapia, AFA’s
President, said the collaboration will enable both partners to “project actions
for five years, work on various projects and establish a work plan that will undoubtedly deliver great results for both parties.”
Tapia further explained,
“For several years we have been significantly increasing AFA’s income and
adding leading global brands in their fields.
“This agreement reinforces
that strategy and adds an innovative multinational with a vision important for
the future, in a new world like cryptocurrencies and fan tokens, where together
we can grow and generate new sources of income for AFA and Pro League clubs. We
welcome Binance to the AFA family.”
Finance and Football
In January, Binance landed a
sponsorship deal
with Brazil’s soccer league, Paulistão Sicredi, to expand its reach in the
Latin America country.
The exchange had stated
that the sponsorship enables its to launch exclusive products such as a
platform for non-fungible tokens (NFTs) and live NFTs, among others.
Binance also currently sponsors Santos Futebol Clube,
the Brazilian sports club based in Vila Belmiro in the city of Santos.
However, asides from
cryptocurrency exchanges, forex and contract for difference (CFD) brokers are
also seeking to penetrate new markets through football.
For instance,
Robomarkets, a forex and CFD broker, recently entered into a multi-year
agreement with Eintracht
Frankfurt, a German football club.
Estonia-based forex and
CFDs broker brand, Admirals (formerly Admiral Markets), also recently inked a deal with FCI Levadia Tallinn, a domestic football
club in Estonia.
“Football has always had
an important place in the history of Estonian sports,” the Chief Executive
Officer of Admirals Group, Sergei Bogatenkov, had said.
“As the representative
of Admirals, we are very pleased that we can be the background force for the
current champions of Estonia.”
Binance, the world’s
largest cryptocurrency exchange, has signed its first sponsorship agreement
with a national football team.
The digital exchange just entered into a five-year deal with the Argentine Football Association (AFA), Insider Sport reports.
The is coming five months after Binance entered into a
partnership agreement with the Confederation of
African Football, becoming the exclusive cryptocurrency and blockchain sponsor
of the African Cup of Nations.
This new deal names the
Cayman Islands-headquartered exchange as the main global sponsors of Argentina’s national teams.
The partnership also
means that the Binance Coin (BNB), a token created by Binance in 2017, will
become the only official fan token of the AFA while the partnership lasts.
Maximiliano Hinz,
Binance’s General Director for Latin America, has said that the partnership will bring more technology and innovation to the Argentine sports industry and
millions of fans.
The move will also
“expand crypto adoption for the benefits of users, the cryptocurrency and
blockchain community, and society in general,” Hinz explained.
Claudio Tapia, AFA’s
President, said the collaboration will enable both partners to “project actions
for five years, work on various projects and establish a work plan that will undoubtedly deliver great results for both parties.”
Tapia further explained,
“For several years we have been significantly increasing AFA’s income and
adding leading global brands in their fields.
“This agreement reinforces
that strategy and adds an innovative multinational with a vision important for
the future, in a new world like cryptocurrencies and fan tokens, where together
we can grow and generate new sources of income for AFA and Pro League clubs. We
welcome Binance to the AFA family.”
Finance and Football
In January, Binance landed a
sponsorship deal
with Brazil’s soccer league, Paulistão Sicredi, to expand its reach in the
Latin America country.
The exchange had stated
that the sponsorship enables its to launch exclusive products such as a
platform for non-fungible tokens (NFTs) and live NFTs, among others.
Binance also currently sponsors Santos Futebol Clube,
the Brazilian sports club based in Vila Belmiro in the city of Santos.
However, asides from
cryptocurrency exchanges, forex and contract for difference (CFD) brokers are
also seeking to penetrate new markets through football.
For instance,
Robomarkets, a forex and CFD broker, recently entered into a multi-year
agreement with Eintracht
Frankfurt, a German football club.
Estonia-based forex and
CFDs broker brand, Admirals (formerly Admiral Markets), also recently inked a deal with FCI Levadia Tallinn, a domestic football
club in Estonia.
“Football has always had
an important place in the history of Estonian sports,” the Chief Executive
Officer of Admirals Group, Sergei Bogatenkov, had said.
“As the representative
of Admirals, we are very pleased that we can be the background force for the
current champions of Estonia.”
Source: https://www.financemagnates.com/cryptocurrency/binance-signs-five-year-deal-with-argentine-football-association/