Binance announced its first sponsorship agreement with a national football team as the digital exchange has just signed a five-year partnership with the Argentine Football Association (AFA)
Binance Extends Partnership With AFA
Binance, the largest cryptocurrency exchange in the world, has announced its first sponsorship deal with a national football team.
According to Insider Sport, the digital exchange has just signed a five-year partnership with the Argentine Football Association (AFA).
The announcement comes five months after Binance signed a collaboration agreement with the Confederation of African Football to become the African Cup of Nations’ sole cryptocurrency and blockchain sponsor.
“Contributing makes me fee“We are very happy to strengthen our relationship with Binance through this important medium-term agreement, which allows us to project actions for five years, work on various projects and establish a work plan that will undoubtedly deliver great results for both parties.
“For several years we have been significantly increasing AFA’s income and adding leading global brands in their fields. This agreement reinforces that strategy and adds an innovative multinational with a vision important for the future, in a new world like cryptocurrencies and fan tokens, where together we can grow and generate new sources of income for AFA and Pro League clubs. We welcome Binance to the AFA family.”
— Claudio Tapia, President of AFAThe Cayman Islands-based exchange will be the primary global sponsor of Argentina’s national teams under this new agreement.
During the duration of the agreement, the Binance Coin (BNB), a token established by Binance in 2017, will be the only official fan token of the AFA.
Previously, the AFA established a global expansion strategy for its brand and emphasized the need of collaborating with industry leaders like Binance.
“Sport is always a powerful means for people to connect with each other and with their passions and, in Argentina, soccer is especially relevant in that regard.
“The partnership with AFA will bring more technology and innovation to the sports industry in the country and its millions of fans and also expand crypto adoption for the benefit of users, the cryptocurrency and blockchain community, and society in general.”
— Maximiliano Hinz, General Director of Binance for Latin AmericaAdditionally, the AFA has confirmed that it will soon launch its official fan token from Binance, which will become the only official fan token in the market validated by AFA.
“Soon we will launch the new AFA Fan Token and that will strengthen our bond with the fans of the National Team around the world, in a year as important as this one”
— Leandro Petersen, Commercial and Marketing Manager of AFA.Cryptocurrency And Sport
Binance signed a sponsorship contract with Paulistão Sicredi, Brazil’s soccer league, in January to grow its presence in the Latin American country.
The sponsorship, according to the exchange, allows it to create exclusive goods such as a platform for non-fungible tokens (NFTs) and live NFTs.
Binance is also a sponsor of Santos Futebol Clube, a Brazilian football club situated in Vila Belmiro, Santos. It also accompanies the African Cup of Nations and the European soccer teams, Portugal and Italy, whilst also holding a deal with the Alpine Formula One team.
Apart from bitcoin exchanges, FX and contract for difference (CFD) brokers are also using football to break into new markets.
For example, the FX and CFD broker Robomarkets just signed a multi-year deal with Eintracht Frankfurt, a German football team.
Admirals (previously Admiral Markets), an Estonian forex and CFDs broker, recently signed an agreement with FCI Levadia Tallinn, a domestic football club.
