- Latin American crypto exchange Bitso has recently entered into a three-year sponsorship agreement with the Brazilian soccer team São Paulo Futebol Clube (SPFC).The news was first announced by the company on Friday.
- According to the terms of the sponsorship, which will take effect this month, Bitso’s logo will appear on São Paulo’s official jersey.
- It will also appear as part of the Brazilian club’s Morumbi stadium which will be earmark in a special area that will be named after the crypto exchange, Bitso’s VP of Marketing José Molina has revealed.
Bitso, a Latin American cryptocurrency exchange, just signed a three-year sponsorship deal with S. Paulo Futebol Clube, a Brazilian soccer team (SPFC). The corporation originally revealed the news on Friday.
Bitso’s emblem will appear on S. Paulo’s official shirt, according to the rules of the sponsorship, which will take effect this month. According to Bitso’s VP of Marketing José Molina, it will also feature as part of the Brazilian club’s Morumbi stadium. It will be demarcated in a unique section that will be called after the crypto exchange.
Cryptocurrency Companies Back Supporting Teams In Europe
Crypto firms frequently support sports teams in Europe, and the same is true in the United States. Latin America, on the other hand, is relatively untouched in terms of marketing collaborations.
In six months, Bitso and So Paulo aim to allow bitcoin payment for tickets and products, according to Molina. The financial parameters of the deal between the two companies have yet to be reveal out.
Bitso has 3.7 million users and operates in Argentina, Brazil, Colombia, and Mexico. Bitso, according to Molina, intends to become Brazil’s largest crypto exchange this year.
Last year, Mercado Bitcoin, Brazil’s largest crypto exchange, attracted 3.2 million clients, making competition for the top place fierce.
With the goal of “expanding swiftly,” Bitso has more than 30 employment vacancies in Brazil. In August of last year, the crypto exchange hired Facebook veteran Vaughan Smith to help the firm expand in Brazil.
Bitso secured $250 million in a Series C round in May 2021, valued at $2.2 billion, giving it Latin America’s first crypto unicorn (with a market cap above $1 billion).
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