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Argentine Football Confederation closes sponsorship with cryptocurrency company

The Argentine Football Association (AFA) has signed an unprecedented sponsorship with a cryptocurrency company. According to the official announcement by the AFA, the Bybit cryptocurrency exchange will be the entity's main global sponsor for the next two years. The agreement provides that the company's logo will be displayed on the team's training uniforms. …

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The Argentine Football Association (AFA) has signed an unprecedented sponsorship with a cryptocurrency company. According to the official announcement by the AFA, the Bybit cryptocurrency exchange will be the entity's main global sponsor for the next two years.

The agreement provides that the company's logo will be displayed on the team's training uniforms. Thus, names like star Lionel Messi – who is also the team captain – and other Albiceleste players will train with the company's logo. The contract will be valid for 24 months.

Claudio Tapia, president of the AFA, explained that the partnership is part of the strategy to attract global sponsors. In this sense, Bybit joins companies such as Adidas, Nissan and Coca-Cola, other sponsors of the Argentine national team.

“We are very happy to announce this important commercial agreement. We've added a branding to the teams' national uniform, and that's something that's significant for both the company and the AFA. It is important to add brands with a global presence”, he clarified.

Ben Zhou, CEO of Bybit, described Argentina as one of the most successful teams in football. The CEO classified the team as “passionate and creative”, characteristics that, according to him, are in line with the company's vision.

Argentines and cryptocurrencies

Bybit's sponsorship is the latest chapter in the union between Argentines and cryptocurrencies. The neighboring country frequently registers the highest volumes of Bitcoin (BTC) adoption and trading in Latin America.

Ravaged by a financial crisis and rampant inflation, Argentines see the BTC as a way to protect their capital. In this sense, the use of cryptocurrencies , as well as the dollar, is common in the country, to the point where most players' contracts are closed in dollars.

And even the national team players have already adopted this technology. For example, ace Messi received a “welcome pack” on the Paris Saint-German (PSG) team that includes part of the payout in fan token from the French team.

Another historical striker involved with the market is Gabriel Batistuta, second best scorer at Albiceleste. The attacker has recently released a collection of non-fungible tokens (NFT) that are traded on the Binance Marketplace platform. The arts were separated into three quality categories: rare, epic and legendary. One of the legendary tokens was auctioned by Batistuta himself.

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