Cryptocurrency exchange Crypto.com will become an official sponsor of the FIFA World Cup Qatar 2022, both organisations announced in a joint statement this week.
While trading cryptocurrencies in Qatar is illegal – it’s banned by the country’s central bank – Crypto.com said the partnership would help drive further awareness of the exchange globally, as the FIFA World Cup is football’s largest governing body and brings over a billion views in each tournament.
The deal also highly benefits FIFA as it will help it grow on a global scale, said its chief commercial officer Kay Madati, citing Crypto.com’s recent related moves in the world of sports:
We are delighted to have a global brand like Crypto.com join us as a sponsor of the exciting and groundbreaking FIFA World Cup in Qatar, ultimately helping to grow our beautiful game on a global scale.
As part of the sponsorship deal, Crypto.com users will be able to attend matches and win exclusive merchandise.
Big Moves by Crypto Companies
Of course, the crypto community viewed the sponsorship as a major move by the exchange. Several crypto institutions are actively gaining ground in the mainstream media, signing partnerships with major organisations and becoming official sponsors of international tournaments:
Last month, Brisbane-based exchange Swyftx made sporting history by inking a three-year partnership with Australia’s National Rugby League (NRL) to become its exclusive crypto partner.
In addition, the Australian Football League (AFL) recently signed an A$25 million sponsorship deal with Crypto.com, eclipsing its current deal with Toyota (worth A$18.5 million.)
Crypto.com has been actively working in expanding its reach worldwide with numerous partnerships in the sports industry. In July 2021 it became the first crypto sponsor of the largest mixed martial arts promoter, the UFC, in a US$175 million deal.
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