TL;DR Breakdown
- Binance signs a five years sponsorship deal with the AFA.
- The crypto exchange is launching a Fan-Token very soon.
Binance, one of the top crypto exchanges globally, has signed a sponsorship contract with the Argentine Soccer Society (AFA). The leading cryptocurrency exchange will be the global partner of the Argentine team. Binance is in the process of creating a Fan-Token.
While the cryptocurrency market is slowing down, Binance, the leading crypto trading exchange is expanding into new market territories in Argentina.
Crypto exchanges connects with soccer in Argentina
It is increasingly common for crypto exchanges to partner with soccer associations globally, mainly in Latin America. As a South American country, Argentina is advancing in the cryptocurrency market, and this time they signed a deal with the Binance Exchange. The AFA and the crypto company will have a 5-year sponsorship agreement.
The AFA director, Claudio Tapia, admires the exponential growth of the crypto exchange, which has become a leader in South America. He concludes by saying he is excited about the deal with Binance. It is a strategic deal.
The CEO of the crypto company in Latin America, Maximiliano Hinz, believes this company could expand its operations in the country. Hinz also argues that Argentine soccer fans have become excited about cryptocurrencies. The crypto market has gained strength in Argentina since the second half of 2021, after Alberto Fernández, its president, spoke openly about it.
Binance follows ByBit proposals
Although the AFA partnership with Binance looks refreshing for Argentina, it is not the first partnership with a cryptocurrency platform. In previous months, Argentina’s national team cut a deal with ByBit.
Lionel Messi, the midfielder of the Argentine team and Paris Saint-Germain, will be wearing the ByBit logo on his t-shirt until 2023. Cryptocurrencies have been having an increased interest in Argentina. It is becoming common to see cryptocurrencies associated with AFA and soccer.
After signing the agreement with the AFA, ByBit believes that they made one of the best decisions that will undoubtedly bring good results in the years to come. There are no details about the Binance Fan-Token after associating with the AFA, but it will be a success after its launch.
The crypto company improves its services daily, making cryptocurrency trading easier. The crypto platform has been noted for its P2P payment method in Latin America, allowing merchants to accept Bitcoin.
Source: https://www.cryptopolitan.com/binance-sponsoring-argentinas-soccer-team/