Top-flight English soccer side Arsenal have become the first Premier League team to enter into a cryptocurrency partnership, signing an exclusive deal with CashBet Coin ahead of its initial coin offering (ICO).
The new cryptocurrency, designed specifically for iGaming for Californian gambling platform CashBet, becomes Arsenal’s official blockchain partner, a first for a major soccer team.
The agreement will give the CashBet Coin brand prominent placement via in-stadium advertising channels for Arsenal’s home Premier League games.
Vinai Venkatesham, Arsenal’s chief commercial officer, said: “We are pleased to welcome Cashbet Coin as our partner. We are looking forward to working with CashBet Coin as they launch their new cryptocurrency.”
Dr Mike Reaves, chief executive and founder of CashBet, said: “With our ICO for CashBet Coin, we are actively targeting a global, multi-billion dollar marketplace of iGaming content providers, operators and players.
“We are delighted to do so in partnership with one of world football’s true giants in Arsenal, enabling us to build our brand and engage this audience in a meaningful way.
“Designed specifically for iGaming, CashBet Coin will improve the online experience for real money, casino, social, skill-based, eSports and sports betting players through increased trust and transparency, faster pay-outs, reduced fees and dedicated player protection.”
CashBet Coin’s ICO pre-sale begins on 24th January at 5pm GMT and ends on February 20 at 5pm GMT, followed by the public sale beginning on 20th March at 5:00PM GMT and continuing until 27th April at 5:00PM GMT.