Turkish Bitcoin exchange BtcTurk partners with Turkish football club Yeni Malatyaspor and becomes world’s first crypto football shirt sponsor. The exchange signed a deal with the club that will put BtcTurk’s logo on their football kit for 2019/20 season.
What is BtcTurk?
BtcTurk is the largest Turkish cryptocurrency exchange platform that was founded in 2013. The exchange was the globe’s fourth cryptocurrency exchange while it was Turkey’s first crypto exchange. Currently, the company has around a hundred employees.
BtcTurk’s collaboration is not the only football-blockchain collaboration in the world. English football club Manchester City revealed their blockchain partnership last month. The move was soon followed by BtcTurk.
This shows that people outside of the blockchain ecosystem are realizing the benefit of the technology and hence taking steps towards it. These steps may be small but pave the road for greater blockchain adoption by exposing it to more people.
Turkey’s football league is called the Süper Lig and consists of the top eighteen football clubs from the country. Football is Turkey’s most popular sport, and hence, this collaboration will bring Bitcoin to many people who did not know about it before.
According to BtcTurk CEO Özgür Güneri, this collaboration is a huge leap in raising Bitcoin awareness. Moreover, he added that the company has and will continue to assist the growth of the crypto industry in the country as well as the rest of the world.
Bitcoin has become popular among Turkish citizens as the country’s economy seems to be in a rough condition. The inflation rate has risen to 17 percent and pushes people to use hedge funds like Gold and Bitcoin.
Moreover, Turkey’s currency the Lira is performing poorly against the US Dollar. The lira had a steep drop last year but has been recovering since.
Since western financial services like PayPal are not available in the country, Bitcoin is one of the few alternatives left to the citizens. This means that the country’s Bitcoin adoption is on a hike.