- Bybit has become a partnering crypto exchange of German’s professional club, Borussia Dortmund.
- The partnership is based on mutual brand marketing.
The football industry is one other prominent sector that is waking to mainstream crypto adoption. Many professional football clubs have recently announced a partnership, sponsorship, and fan token development, all of which continue to create awareness for digital currencies. Today, Borussia Dortmund (BVB) is looking to leverage the cryptocurrency industry to expand its international reach, particularly in Asia.
Bybit enters partnership with a German football club
According to the announcement on Thursday, the German football club reached a multi-year partnership with Bybit, a digital currency derivatives exchange based in Singapore. The development is basically tied around mutual brand outreach and marketing. Through the partnership, the German professional club intends to expand its reach in the Asian continent, according to the Managing Director, Carsten Cramer.
Borussia Dortmund is reportedly the seventh-largest professional football club with the highest number of fans/supporters. So far, the German club has won several Bundesliga titles, including a Champions League trophy back in the 90s. By becoming a partner and BVB-supporting crypto company, the CEO of Bybit, Ben Zhou, commented that the partnership solidifies their intention to run the derivatives services in the long-term.
Crypto goes mainstream in the football industry
It’s interesting to see that cryptocurrency companies can actually cooperate with football clubs. Being one of the biggest sporting activities, more partnerships from football clubs can eventually result in more crypto adoption. Already, other professional football clubs in Span, France, Italy, etc., are engaged in cryptocurrency, although not via company partnership. Recently, FC Barcelona, Paris Saint Germain (PSG), and Juventus launched blockchain-based tokens to promote engagement with fans.
Also, on September 16, another football club, Lazio, entered the cryptocurrency space via a partnership with a crypto exchange, StormGain, to promote its engagement with supporters.