Latin American Crypto Exchange Bitso to Sponsor São Paulo Football Club

Latin American crypto speech Bitso entered into a three-year sponsorship statement with the Brazilian shot squad São Paulo Futebol Clube (SPFC), the institution announced connected Friday.

Under presumption of the sponsorship, which volition statesman this month, Bitso’s logo volition look connected São Paulo’s authoritative jersey, and portion of the Brazilian club’s Morumbi stadium volition beryllium earmarked for a peculiar country named aft the crypto exchange, Bitso’s VP of Marketing José Molina told CoinDesk.

While crypto companies sponsoring sports teams has go reasonably commonplace successful Europe and the U.S., Latin America is inactive mostly untapped for selling tie-ups.

Bitso and São Paulo program to alteration outgo by cryptocurrency for tickets and merchandise successful six months, said Molina, who did not disclose the fiscal presumption of the agreement.

The institution operates successful Argentina, Brazil, Colombia and Mexico and has a full of 3.7 cardinal users, Molina said, adding that Bitso aims to go the biggest crypto speech successful Brazil this year.

Mercado Bitcoin, Brazil’s largest crypto exchange, reached 3.2 cardinal customers successful that state past year, Mercado Bitcoin told CoinDesk successful a written statement.

Bitso has much than 30 occupation openings successful Brazil with the purpose of “growing rapidly,” Molina said. Bitso hired Facebook seasoned Vaughan Smith successful August past twelvemonth to boost the company’s enlargement successful Brazil.

In May 2021, Bitso raised $250 million successful a Series C astatine a $2.2 cardinal valuation, making it the archetypal crypto unicorn (having worth exceeding $1 billion) successful Latin America.