eToro Introduces Bitcoin to Seven Football Clubs in the Premier League
The Tel Aviv based social and digital trading platform, eToro, has announced today that it has forged new marketing partnerships with seven individual Premier League football clubs, making it the first ever company to power the partnerships with Bitcoin.
Within the statement provided, eToro will partner up with the football clubs: Brighton & Hove Albion F.C., Cardiff City F.C., Crystal Palace F.C., Leicester City F.C., Newcastle United F.C., Southampton F.C., and Tottenham Hotspur.
Within the statement that coincided with the announcement, the UK Managing Director of eToro, Iqbal Gandham expressed his excitement about becoming the first company to bring Cryptocurrency into the world of Premier League football.
As a global multi-asset platform where you can purchase the world’s biggest cryptoassets alongside more traditional investments, we are excited to be partnering with so many Premier League clubs and make history by being the first company ever to pay for a Premier League partnership in bitcoin.
While how much involvement cryptocurrencies had in the process of proposing, negotiating and securing these partnerships is presently limited to just the payment aspect, eToro believes that blockchain technology has the potential to have a significant impact on the Premier League and the world of football as a whole.
For example, incorporating blockchain technology into football could help “[address] issues of ticket touting, problems with transparency, and [provide] a guarantee of authenticity for merchandise.”
This announcement comes one day after the company announced that it would be adding a new cryptocurrency to its existing range of digital assets. This crypto was IOTA (IOTA), a public distributed ledger that aims to power Internet of Things (IoT) networks, to its list of digital assets available to trade on its platform.