Premier League Embraces Bitcoin Via eToro

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Premier League Embraces Bitcoin Via eToro
Premier League Embraces Bitcoin Via eToro

The world's most spectacular football (soccer) league, the English Premier League, has ventured into the world of Bitcoin and cryptocurrencies for the first time!

Global investment platform from Tel Aviv, eToro, has reached a historic agreement with seven top-flight football teams playing in Premier League. These teams will be making payments to their players in Bitcoins!

Kick Off

The new Premier League season is already underway, and three days in, we're in for a historical treat: Bitcoin is entering the world's most expensive football league in style...

...Seven professional teams - Tottenham Hotspur, Newcastle United, Southampton, Crystal Palace, Leicester City, Cardiff City and Brighton & Hove Albion - have set up a digital wallet with eToro and, as a part of this deal, these teams will be making (part of) salary payments to their players in Bitcoin.

The news was announced on eToro's official Twitter profile, with UK MD Iqbal V. Gandham stating "Blockchain can improve the experience for everyone who loves the 'beautiful game."

He went on to add to his original statement: "As a global multi-asset platform where you can purchase the world’s biggest cryptoassets alongside more traditional investments, we are excited to be partnering with so many Premier League clubs and make history by being the first company ever to pay for a Premier League partnership in bitcoin."

Important Milestone

This will be the first time the use of Bitcoin on this scale is introduced to professional football. The small football team of Gibraltar United announced in July that it will make cryptocurrency payments to their players, as well...

...Blockchain technology should, according to eToro, also address some lasting issues in the football industry, such as ticket touting, but also guarantee authentic merchandise. eToro will benefit from a massive exposure through marketing opportunities owned by some of the world's most popular football clubs.

Gandham is of the opinion that Premier League clubs will do a lot in raising blockchain technology awareness: "Today’s announcement is the first small step on a long road to football fully embracing blockchain technology. Education will be key so that industries can understand the potential and so getting global exposure through these Premier League clubs represents a great opportunity to raise awareness."

Representatives of the football teams who have teamed up with the platform also shared their opinion. Head of Partnerships at Tottenham Hotspur, Fran Jones said that, "Tottenham Hotspur is committed to technology and innovation and they're excited to welcome eToro as a partner in a category that is developing at a rapid rate"...

Leicester City's Commercial Director, Jonathan Gregory, said that, "eToro, much like Leicester City, is an ambitious brand with a significant global reach", while David Thomas of Southampton said the club is "looking forward to working with them and learning more about the potential that cryptocurrency can have in football."

Source:

"eToro Brings Bitcoin to Football", prnewswire.com, August 21, 2018.

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