Bitso, Latin America’s largest cryptocurrency exchange, has become the official sponsor of Mexico’s national football team, according to a ForkLog press release.
❤️🇲🇽Proud sponsor of @miseleccionmx and @Miseleccionfem #BitsoConMiSelección pic.twitter.com/D09hj0DNYG
— Bitso (@Bitso) January 12, 2022
The parties did not disclose financial terms of the deal.
Under the partnership, Bitso and the national team will promote the adoption of cryptocurrencies in the region, starting with educational programs. The agreement also provides for the release of a Mexico team NFT collection, to be distributed exclusively by the exchange.
“Our football team continually inspires us to strive for new heights, so we could not wish for a better partner to facilitate access to technology and innovation across the region,” said Bitso co-founder and CEO Daniel Vogel.
The new partnership was described as part of an “aggressive growth strategy” Bitso adopted after reaching a valuation of $2.2 billion. The exchange counts more than 3.7 million users and positions itself as the third-most valuable fintech startup in Latin America.
The sponsorship agreement with the Mexico national team marks the company’s third foray into football. Bitso’s partners already include the Tigres team from the Mexican league and one of Brazil’s leading clubs, São Paulo.
Sponsors in the crypto industry also include Italian clubs «Milan» and «Inter» — long-standing agreements were respectively concluded by the derivatives exchange BitMEX and the blockchain company Zytara Labs.
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