Crypto.com takes on Paris Saint-Germain
Decidedly, cryptocurrency exchange platforms greatly appreciate the visibility that the sports industry can offer them.
After brilliant partnerships with Formula 1, theUltimate Fighting Championship (UFC), the National Hockey League (NHL) or the Italian football championship, the Crypto.com (CRO) platform has just got closer to Paris Saint-Germain (PSG).
In a press release, Crypto.com announces that it has concluded a multi-year agreement with the famous football club. Thus, Crypto.com becomes the official “crypto-partner” of the Parisian club and this collaboration will result in several elements.
In addition – and this would be a world first for a partnership of this scale – a significant (but unspecified) portion of the sponsorship fee will be paid to PSG in CRO tokens, the native cryptocurrency of the Crypto.com ecosystem.
“Our mission from day one has been to accelerate the world’s transition to crypto-currencies. We do this by finding the best partners in the world, and Paris Saint-Germain is no slouch,” said Kris Marszalek, co-founder and CEO of Crypto.com.
🆕🤝Paris Saint-Germain names https://t.co/Dv9ci3EIpk as the club’s first official cryptocurrency platform partner.
– Paris Saint-Germain (@PSG_English) September 9, 2021
A club already very crypto-friendly
Paris Saint-Germain is no stranger to the world of cryptocurrencies. So this partnership with Crypto.com is not that surprising when you look at the club’s history with the industry.
In early 2020, the legendary French club launched its own cryptocurrency through a collaboration with Socios.com. A fan token that allows fans to participate in certain decisions made by the football club.
An announcement that materialized in a consequent increase in the price of the PSG token, in addition to proving once again the club’s commitment to the development of crypto-assets.
For Marc Armstrong, director of partnerships at Paris Saint-Germain, this deal with Crypto.com once again shows that the club is a true pioneer in areas such as digital, e-sports and lifestyle.
“This is an exciting time for crypto-currencies and we look forward to working with Crypto.com to offer new experiences to all the club’s fans,” he added.
Naturally, the PSG token is now available for trading on Crypto.com’s platform, and the announcement of the partnership was accompanied by a nearly 10% rise in its price within a few hours.
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About the author: Clement Wardzala
Editor-in-Chief of Cryptoast, I discovered Bitcoin and blockchain technology in 2017. Since then, I’ve been striving to share qualitative content so that the sector can be democratized to everyone.
All articles by Clement Wardzala.