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The exchange of cryptocurrencies based in the United States – COINBASE – would have doubled on his deal with one of Germany's most successful football teams – Borussia Dortmund (BVB).
The agreement, which has transformed the platform into the Bundesliga club's premium partner, will last until the end of June.
Making the Collaboration Public
Coinbase started its partnership with Borussia Dortmund in July last year by running ads on the video screens in the club’s stadium. According to recent coverage, the two have expanded their collaboration.
Under new circumstances, coinbase will be the top partner for bvb, promote its products and services on signal-iduna-park (the club pitch and the biggest stadium in Germany), and deliver crypto training programs to team members.
We do not know how much money was spent in order to conclude the agreement. The general manager of Borussia Dortmund, Carsten Cramer, said it will last until the end of June, but that it could be extended depending on the future state of the cryptocurrency industry:
"It's a very exciting industry, but it's still a new one. That's why we want to maintain our room to manoeuvre."
Cramer further submitted that the Coinbase BaFin licence was a "basic condition" for the partnership strike. The company is one of a handful of cryptocurrency entities registered with the German financial watchdog.
In spite of its recent expansion, the stock market faced serious problems during the down market. It dismissed around 18% of its total workforce last summer and laid off additional 950 people earlier this month.
It also announced it will stop operating on the Japanese market, citing adverse economic conditions. Local users have until the middle of February to withdraw their assets from the platform, while deposits have been suspended today (20 January).
The Rivals Have Already Dived Into the Soccer Field
Leading cryptocurrency trading venues, including Binance, Crypto.com, and Bitget, have collaborated with soccer giants or famous players over the past few years.
Binance serves as the main jersey partner of the Italian Lazio and is the main global sponsor of Argentina’s national team (the reigning world champion). It also teamed up with the winner of five Ballon d’Or awards – Cristiano Ronaldo – to drop an NFT collection.
Crypto.com was the official sponsor of the FIFA World Cup Qatar 2022, and its logo was visible during each of the 64 matches played in the tournament.
Bitget is the sleeve partner of Italy’s most successful soccer club – Juventus. He also teamed up with the biggest player of our time – Lionel (Leo) Messi – to enable fans to explore Web3 and the potential of crypto trading on the platform.
