Cryptocurrency exchange Crypto.com signed a sponsorship agreement with the South American Football confederation as sponsor of the continent’s club championship the Copa Libertadores.
The sponsorship deal comes as cryptocurrencies are of increasing interest in Latin America, with one country, El Salvador, even making Bitcoin legal tender.
“Our research shows Latin America is leading the way in embracing cryptocurrency, with 40% of Latin Americans saying they are interested in buying crypto in the near future,” said Kris Marszalek, co-founder and CEO of Crypto.com.
A recent Pew research survey found that 21% of Hispanic adults in the US had invested in, traded or used a cryptocurrency.
This is not the first move by Singapore-based Crypto.com in sports, having recently put its name to what was formally known as the Staples Center in Los Angeles as well as signing partnerships with Formula I racing, UFC, the football club Paris Saint-Germain and the Philadelphia 76ers basketball team.
Crypto.com will be featured in the virtual Assistant Referee feature, as well as having brand exposure during broadcasts of the Copa Libertadores. The cryptocurrency exchange will also develop NFT’s associated with the intellectual property of Copa Libertadores competition on its NFT platform.