Formula 1 bets on cryptocurrency sponsorship

    On Tuesday, Formula 1 has announced, the world’s fastest-growing crypto platform, as the inaugural global partner of the new Sprint series for 2021. The Hong Kong-based exchange with over 10 million users worldwide also sponsored Italian soccer’s Coppa Italia final in May and signed a deal with the National Hockey League team Montreal Canadiens in March.

    The F1’s official website has declared the platform as the official cryptocurrency sponsor and NFT (non-fungible token) partner. The application used by 10 million people will surely be influential for F1.

    “In addition to building the world’s fastest-growing crypto platform and the leading app in both the App Store and Google Play, the Visa Card is the world’s most popular crypto card available in 30+ countries worldwide,” an official statement by F1 claimed. “Partnering with Formula 1 will ensure continues to grow their brand awareness on an international stage.”

    President and CEO Formula 1 Stefano Domenicali stated: “We are pleased to welcome to the Formula 1 family, as we continue to attract progressive global brands anchored in performance and innovation.”

    Director of Commercial Partnerships at Formula 1 Ben Pincus said: “We are thrilled to announce as a Global Partner and lead partner of the Sprint event as we bring this exciting new format to fans for the first time this year. We will rely heavily on their expertise as we explore the world of cryptocurrency, an area we are very interested in, and this will be the first time as a sport we are able to offer fans the opportunity to explore this exciting world as we further increase our digital presence.”

    And he continued: “ are revered in the industry and their experience was key in the decision to partner with them, as well as the company’s commitment to becoming carbon negative, as we continue to move towards sustainability goals of our own.”

    Co-Founder and CEO of Kris Marszalek added: “We are extremely proud to be the first cryptocurrency sponsor of Formula 1, joining a prestigious collection of brands supporting a sport with technology and innovation at its core.”

    “We look forward to many years of innovating together and will begin at the Belgian Grand Prix where we will present a brand new award. We’re also excited to partner with F1 in the development of exclusive NFTs, connecting fans to the sport in new and innovative ways,” he added.’s branding will be present trackside at all F1 races for the remainder of the 2021 season starting with British Grand Prix at Silverstone on July 17.

    The partnership furthers’s presence at major sporting events; the exchange sponsored Italian soccer’s Coppa Italia final in May. It also signed a deal with the National Hockey League team Montreal Canadiens in March.


    Leave a Reply

    Your email address will not be published. Required fields are marked *