Coinbase Expands Partnership With German Football Club Borussia Dortmund

American cryptocurrency exchangeCoinbasedoubled its agreement with one of the most successful German companiesfootball teams – Dortmund“Borussia” (BVB). The deal that turned the platform intoPremium partner of the Bundesliga club, will last until the end of June. Coinbase has begun cooperation with Dortmund “Borussia” last July by advertising on the video screens at the club's stadium. Under the new terms, Coinbase will act as a premium partner of BVB, promoting its products and services onSignal-Iduna-Park(the club's home ground and Germany's largest stadium), as well asprovide cryptocurrency training programs for team memberss.

It is not yet known how much Coinbase spent onmake a deal. Managing Director of Borussia Dortmund” Karsten Kramer said that it will last until the end of June, but may be extended depending on the future state of the cryptocurrency sector: “This industry is very interesting, but still new. That's why we want to remain flexible”. Cramer added that Coinbase having a BaFin license was a “core requirement” to enter into a partnership. The company is one of the few cryptocurrency organizations registered with the German financial supervisory authority. Despite its recent expansion, the exchange faced significant challenges during the bear market. It laid off about 18% of its total staff last summer and cut another 950 people earlier this month. It also announced it would cease operations in the Japanese market, citing unfavorable economic conditions. Local users have until mid-February to withdraw their assets from the platform, while deposits have been stopped (January 20).

Competitors have already entered the football field.

Binanceacts as the main partner of the Italian football club“Lazio”and is the main global sponsor of the national teamArgentina (current world champion). The company has also teamed up with five-time Ballon d'Or winner; Cristiano Ronaldo for the release of the collectionNFT.

Crypto.comwas an official sponsor of the FIFA World CupFIFA in Qatar 2022, and its logo was visible during each of the 64 matches played as part of the tournament.

Bitgetis a sleeve partner of the most successful football club in Italy –“Juventus”. He also collaborates with arguably the greatest player of our time –Lionel (Leo) Messi,so fans can studyWeb3and the potential for cryptocurrency trading on the platform.