- Seven Premier League clubs to be paid in cryptocurrency in landmark partnership deals with eToro -
LONDON, Aug. 21, 2018 /CNW/ - Global investment platform eToro has launched partnerships with seven Premier League clubs including Tottenham Hotspur in landmark deals paid using bitcoin. eToro will partner with 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.
Iqbal V. Gandham, UK Managing Director at eToro said: "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."
These partnerships mark the first step in bringing the opportunity offered by bitcoin and cryptoassets to football. eToro believes that crypto, and the technology, namely blockchain that underpins it, can improve football and the world of sports. In the future, this could include addressing issues of ticket touting, problems with transparency, and providing a guarantee of authenticity for merchandise.
As a partner of these seven Premier League clubs, eToro will gain global exposure through an extensive range of marketing opportunities including matchday LED boards, player access, tickets and digital rights.
Iqbal V. Gandham added: "Today's announcement is the first small step on a long road to football fully embracing blockchain technology. Education will be key so that industries can understand the potential and so getting global exposure through these Premier League clubs represents a great opportunity to raise awareness.
"Blockchain brings transparency, which means it can improve the experience for everyone who loves the 'beautiful game'."
Fran Jones, Head of Partnerships, Tottenham Hotspur F.C. said: "At Tottenham Hotspur we are committed to technology and innovation and as such we're excited to welcome eToro as a partner in a category that is developing at a rapid rate."
Paul Barber, Chief Executive, Brighton & Hove Albion F.C. said: "At Brighton we pride ourselves in being at the forefront of bringing new technologies and new ideas to football. We're excited to welcome eToro as a partner that can help us better understand the true potential offered by blockchain."
Barry Webber, Commercial Director, Crystal Palace F.C. said: "Blockchain technology is bringing exciting new opportunities to all areas of business sectors and we are delighted to welcome eToro as a partner so we can explore its potential in football."
Jonathan Gregory, Commercial Director, Leicester City F.C. said: "We are pleased to welcome eToro to the Club as an Official Partner, it is exciting to be working with such an innovative industry leader. Much like Leicester City, eToro is an ambitious brand with a significant global reach and we look forward to working together throughout the season."
David Thomas, Commercial Director, Southampton F.C. said: "We are extremely pleased to be welcoming eToro as a club partner. We look forward to working with them and learning more about the potential that cryptocurrency and blockchain technology can have in football."
As a global multi-asset platform, eToro empowers people to invest by giving them access to the financial instruments they want. The company has created a global community of more than ten million registered users who share their investment strategies and anyone can follow the approaches of those who have been the most successful. With eToro, investors can hold commodities, stocks, ETFs and of course cryptoassets such as Bitcoin and Ethereum, alongside thousands of other financial instruments all in one portfolio. In this way, eToro provides a bridge between the old world and the new. eToro believes that in the future all assets will be tokenised and crypto is the first step in this journey.
eToro empowers people to invest on their own terms. The platform enables people to invest in the assets they want, from cryptoassets to stocks and commodities. eToro is a global community of more than ten million registered users who share their investment strategies and anyone can follow the approaches of those who have been the most successful. Users can easily buy, hold and sell assets, monitor their portfolio in real time, and transact whenever they want.
eToro is regulated in Europe by Cyprus Securities and Exchange Commission and regulated in the UK by the Financial Conduct Authority.
Cryptocurrencies are a highly volatile, non-regulated and are not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Your capital is at risk
About blockchain technology & cryptoassets
Blockchain is a transaction-recording mechanism that comprises of batches of validated transactions called 'blocks' which are chained together in a way that ensures a very high level of data integrity. It is a decentralised ledger that allows transactions to be made without the need for a middle man. The technology enables cryptoassets to work.
Cryptoasset is an all-encompassing term which isn't limited to cryptocurrencies. Cryptocurrencies are a subset of cryptoassets. The most well-known cryptocurrency is bitcoin, and its price is often used as the benchmark against which other cryptocurrencies are measured.