Crypto.com Becomes Global Crypto Partner of Formula 1

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In Brief
  • Crypto.com has announced it is the global crypto partner for F1.

  • The deal became the second in F1 following its partnership with Aston Martin F1 racing team.

  • The move is set to expand Crypto.com’s brand awareness at events for the rest of the season.

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Crypto.com has announced that it will become an official global partner for Formula 1 (F1).

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The announcement sees crypto platform Crypto.com, which currently services over ten million users worldwide, become a global partner for Formula 1 (F1). Crypto.com will also become the inaugural partner of the new Sprint series for 2021, a new addition to the Formula 1 racing roster. 

The move means that Crypto.com will now have a trackside presence at every race for the remainder of the F1 season. The move will bring increased exposure to the crypto space as well as Crypto.com’s service offering. Which includes the popular crypto card which is currently available in over 30 counties. 

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The news means Crypto.com becomes the official cryptocurrency sponsor and non-fungible token (NFT) partner of F1. The company also stated that it will be presenting a brand-new award which will be announced ahead of the Belgian Grand Prix. 

Formula 1 CEO Stefano Domenicali commented on the partnership, saying “We are pleased to welcome Crypto.com to the Formula 1 family, as we continue to attract progressive global brands anchored in performance and innovation.”

Director of Commercial Partnerships at Formula 1, Ben Pincus also echoed Domenicali’s sentiment regarding the partnership. “We are thrilled to announce Crypto.com as a Global Partner and lead partner of the Sprint event as we bring this exciting new format to fans for the first time this year. We will rely heavily on their expertise as we explore the world of cryptocurrency, an area we are very interested in, and this will be the first time as a sport we are able to offer fans the opportunity to explore this exciting world as we further increase our digital presence. Crypto.com are revered in the industry and their experience was key in the decision to partner with them, as well as the company’s commitment to becoming carbon negative, as we continue to move towards sustainability goals of our own” Pincus stated. 

Kris Marszalek, co-founder of Crypto.com also expressed his excitement, he said “joining a prestigious collection of brands supporting a sport with technology and innovation at its core. We look forward to many years of innovating together, and will begin at the Belgian Grand Prix where we will present a brand new award. We’re also excited to partner with F1 in the development of exclusive NFTs, connecting fans to the sport in new and innovative ways.”

Crypto.com expands sports partnerships 

This is not the company’s first move into motorsports. Crypto.com has already partnered with F1 racing team Aston Martin earlier this year, with the F1 team describing the partnership as “Two dynamic brands, both with a passion for speed, technology and future thinking.”

The company has also announced partnerships with Italian football, The Canadiens NHL team, as well as the International Ice Hockey Federation (IIHF).

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Ryan is a Fintech specialist with a passion for cryptocurrencies and blockchain adoption. A keen trader and investor in the market since 2016, he enjoys keeping up to date with the latest developments within the industry while finding the next 100x altcoin.

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