Binance, the world’s largest cryptocurrency exchange by volume, has announced a new collaboration with Brazil’s national football association. Becoming the official cryptocurrency sponsor of four competitions run by the Confederação Brasileira de Futebol (CBF).
As part of the agreement, the 3-year deal will see the Binance act as the exclusive crypto sponsor; of the Brasileirão Assaí, Brasileirão Female Neoenergia, Brasileirão Female A-2, and Brasileirão Female A-3.
This is a major victory for Binance, as the CBF is one of the most popular and well-respected football associations in the world.
The sponsorship agreement will see Binance’s logo. Feature on the sleeve of all four competitions’ official match balls, as well as on LED boards during matches.
Binance will be able to promote and advertise its products at the competitions under the terms of the agreement. The CBF, on the other hand, will develop Fan Tokens and NFTs with Binance.
In addition, Binance will have a presence at all four stadiums where the competitions are taking place.
The sponsorship is a significant move for Binance as it looks to expand its presence in the Brazilian market. The agreement comes at a time when the CBF is preparing to launch its digital currency.
Binance has been an active sponsor of football clubs and associations around the world. In September 2020, Binance announced a sponsorship deal with Spanish La Liga giants Barcelona. Binance has also sponsored Serie A club Juventus and England’s Premier League team Aston Villa.
Binance’s CEO, Changpeng Zhao, says: “The partnership with CBF furthers our commitment to invest in the future of the sport and its athletes. We are excited to work with CBF to help grow the profile of Brazilian football globally.”
The collaboration will help drive crypto adoption in Brazil. Given the strong popularity of football in the country, according to Binance CEO and founder Changpeng Zhao.
“Sport is a significant factor in the inclusion of society. With football being so closely associated with Brazilian identity and culture, our relationship with CBF is essential for promoting crypto adoption.
While also having a beneficial impact on our users, the cryptocurrency and blockchain community, as well as the Brazilian society.” Zhao states.
The news comes at a time when Binance is seeking to expand its presence in South America. Last month, Binance announces the launch of its first fiat-to-crypto exchange in Uruguay.
The move was part of Binance’s plan to establish a network of “fiat-to-crypto” exchanges around the world.
Binance has fiat-to-crypto exchanges in Singapore, Uganda, and now Uruguay. The exchange is also planning to launch a fiat-to-crypto exchange in Argentina in the future.
The sponsorship agreement will see Binance’s logo appear on the CBF website and various social media platforms. Binance will also have a presence at the CBF headquarters in Rio de Janeiro.
The deal with CBF adds to Binance’s growing footprint in the Brazilian sporting space. With the exchange having signed deals with the Paulistão Sicredi and Santos Football Club. Binance is also a sponsor of the UFC.
Binance’s sponsorship of CBF further cements the exchange’s position as a major player in the Brazilian crypto space. Binance first enters the Brazilian market in 2019 with the launch of its Portuguese-language website.
Binance has since seen significant growth in Brazil, with the exchange now ranking as the country’s second-largest crypto platform.
Binance is in partnership with Portuguese soccer giants Porto and Italian club Lazio on the international stage. The exchange also sponsors the recent 2022 African Cup of Nations.