- Deal marks Fifa’s first move in cryptocurrency space
- Other World Cup sponsors include Budweiser, Hisense and Vivo
- Crypto.com already has deals across soccer, basketball, MMA and motorsport
Fifa, soccer’s global governing body, has named Crypto.com as the exclusive cryptocurrency trading platform of this year’s World Cup in Qatar.
As an official sponsor of the 32-team tournament, the Singapore-based company joins Budweiser, Hisense, McDonald’s, Mengniu Dairy and Vivo in the tier below Fifa partners. Those top-tier sponsors include Adidas, Coca-Cola and Visa.
The financial terms of Fifa’s deal with Crypto.com, which marks the governing body’s first move in the cryptocurrency space, have not been reported.
Crypto.com, which claims to have more than ten million customers globally and employs around 4,000 people across the Americas, Europe and Asia, will benefit from brand exposure both inside and outside tournament stadiums in Qatar and also plans to activate its partnership by creating opportunities for users to attend matches or win exclusive merchandise.
The deal continues Crypto.com’s aggressive expansion into sports sponsorship. At the end of last year, it agreed a 20-year deal worth a reported US$700 million for the naming rights to the home venue of the Los Angeles Lakers, Sparks and Kings.
The company also has major partnerships with the likes of Formula One, the Ultimate Fighting Championship (UFC) and Paris Saint-Germain, as well as the Australian Football League (AFL), the Philadelphia 76ers and the Fnatic esports organisation.
In agreeing a deal to sponsor the 2022 World Cup, Crypto.com is the latest company to sign up for a tournament that has been beset with controversy related to Qatar’s treatment of migrant workers and scheduling complications caused by the country’s summer heat.
The event is scheduled to get underway on 21st November, with the final due to take place on 18th December.