Crystal Palace signs first ever bitcoin partnership in football with eToro

Today (August 21), Crystal Palace have announced a major partnership with global investment platform, eToro - the first in football to be paid using bitcoin.

eToro has agreed partnerships with seven Premier League clubs, which marks the first step in bringing the opportunity offered by bitcoin and cryptoassets to football.

eToro believes that crypto - and the blockchain technology that underpins it - can improve football and the world of sports.

Iqbal V. Gandham, UK managing director at eToro, said: “As a multi-asset company 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 making history by being the first company ever to pay for a Premier League partnership in bitcoin.”

In the future, this could include addressing issues of ticket touting, problems with transparency and providing a guarantee of authenticity for merchandise.

As a partner of Crystal Palace FC, eToro will gain global exposure through an extensive range of marketing opportunities, including matchday LED boards, player access, tickets and digital rights.

The other clubs to have agreed similar partnerships are Tottenham Hotspur, Newcastle United, Southampton, Leicester City, Cardiff City and Brighton & Hove Albion.

Barry Webber, Crystal Palace FC’s commercial director, added: “Blockchain technology is bringing exciting new opportunities to all areas of business sectors and we are delighted to welcome eToro as a partner so we can explore its potential in football.”