Cyprus-based Exchange to Sponsor UK Football Teams with Bitcoin (BTC)

eToro, “leading social trading and investment network”, has finalized a partnership agreements which the exchange will sponsor UK’s top soccer teams.

eToro the Cyprus company based out of Limassol, eToro, in a press release announced with the support of SportQuake, it has partnered with seven Premier League soccer clubs. The Cypriot exchange will invest Bitcoin (BTC) in various operations.

The agreement took half a year before being finalized, ending with eToro partnering with seven teams, Tottenham Hotspur, Newcastle United, Crystal Palace, Leicester City, Southampton, Brighton & Hove Albion and Cardiff City. The company wants to make headway by being the first to support the Premier League in bitcoin.

Iqbal V. Gandham, eToro’s managing director for the U.K., stated:
“The blockchain technology that underpins crypto currencies like bitcoin brings transparency, which we believe can improve the experience for everyone who loves the ‘beautiful game’, from fans being targeted by ticket touts, or a club negotiating a transfer, we believe that blockchain will revolutionise the world of football.”

eToro was in support of Bitcoin since January 2014, currently offering BTC trading pairs for its 3 million clients. Starting at the beginning of 2017, the exchange launched another three cryptocurrency trading pairs, offering Ripple, Ether, and Litecoin. However, while traders could buy and sell the digital assets on the exchange’s platform, users were unable to deposit and withdraw these assets.

In May 2018, the company released its cryptocurrency exchange with a built-in wallet service. The company also unveiled that it will list new assets, counting DASH, Bitcoin Cash, Stellar, Ethereum Classic, NEO, and EOS.