Exchange giant Crypto.com has made further inroads into the sporting world as the official sponsor of the 2022 FIFA World Cup.
The crypto exchange, which claims it serves 10m customers worldwide and employ 4,000 staff, will have its branding featured both inside and outside the stadiums at one of the world’s most watched sporting events. The companies did not disclose how much Crypto.com paid for the branding deal which makes it the exclusive crypto trading platform sponsor for the event.
“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,” said Kay Madati, FIFA’s chief commercial officer.
“We could not be more excited to sponsor the FIFA World Cup, one of the most prestigious tournaments in the world, and to drive further awareness of Crypto.com globally,” commented Kris Marszalek, co-founder and chief executive of Crypto.com.
“Through our partnership with FIFA, we will continue to use our platform in innovative ways so that Crypto.com can power the future of world-class sports and fan experiences around the world,” he added.
Crypto.com has pursued an aggressive marketing strategy in the world of sports, recently securing the naming rights to the Staples Centre in Los Angeles and renaming it the Crypto.com Arena. The exchange also enjoys partnerships with motor sport, MMA, basketball and ice hockey teams worldwide.
Competitor exchanges Coinbase and FTX have also made a foray into the world of sports, running advertisements for the Super Bowl contest in the US.
Crypto adverts targeting a mass audience have come under intense regulatory scrutiny and could face a crackdown in the UK. The UK’s advertising watchdog and Financial Conduct Authority yesterday sent out 50 notices to crypto companies informing firms they will face sanctions if they do not comply with guidelines for digital asset promotions.