International football governing body, FIFA, has announced leading Crypto Exchange platform, Crypto.com as the official sponsor of the FIFA World Cup Qatar 2022 tournament.
Announcing this update ahead of the November tournament, the football body revealed that the crypto exchange platform will position to facilitate the tournament ‘in many ways.’
Like a number of crypto exchange platforms, Crypto.com has always leveraged sports to reach a massive audience for its offering and landing the role for sponsorship in the FIFA tournament is not only a huge win but also a strategic positioning for the exchange platform to reach a number of demographics leveraging their passion for the game.
The announcement was made by FIFA on March 22 ahead of the November tournament.
For the football governing body, it has landed a company that leverages digitisation for innovation which is one of the ways Crypto.com will activate the competition. And for Crypto.com, the opportunity to showcase its offerings to a large number of people is one of the major benefits of this sponsorship.
The World Cup is one of the most-watched competitions globally as millions of people all over the world gather to support their country in the games. This year’s tournament will take place in Qatar with the kick-off game starting on November 21 at the Al Bayt stadium in Al Khor.
Speaking about the sponsorship, FIFA’s chief commercial officer, Kay Madati said: “Crypto.com has already demonstrated a commitment to supporting top-tier teams and leagues, major events and iconic venues across the world, and there is no platform bigger, or with a greater reach and cultural impact, than FIFA’s global platform of football.”
While digital currency platforms have always leveraged sports to reach a massive audience, a number of people have pointed this out to be a win for stakeholders in the crypto space.
Here are a few reactions to the announcement
Investors King recalls that cryptocurrency has been tagged as illegal in Qatar since 2018. The Persian Gulf country had banned the use of these digital currencies as it has been used over the years to facilitate cybercrime. However, this win from Crypto.com is one that may position a breakthrough for digital currency penetration in the Persian Gulf region.
