LONDON: Premier League club Arsenal FC has announced a partnership with gaming company CashBet Coin as the club’s first official cryptocurrency partner and official blockchain partner.
CashBet Coin will be launched on 24th January via an Initial Coin Offering (ICO). The cryptocurrency is a utility token that can be used on CashBet-powered iGaming sites and apps.
The deal, the value of which was undisclosed, is the first time a major global sporting team has officially partnered with a cryptocurrency firm.
The partnership will help CashBet Coin build global brand awareness through our extensive digital and social media platforms, and through the creation of bespoke content with our players.
Vinai Venkatesham, Arsenal’s chief commercial officer, said: “We are pleased to welcome CashBet Coin as our partner. We are looking forward to working with CashBet Coin as they launch their new cryptocurrency.”
Dr Mike Reaves, CEO and founder of CashBet, said: “With our ICO for CashBet Coin, we are actively targeting a global, multi-billion dollar marketplace of iGaming content providers, operators and players.
“We are delighted to do so in partnership with one of world football’s true giants in Arsenal, enabling us to build our brand and engage this audience in a meaningful way.”
The announcement comes at a time when an increasing number of regulators and business leaders express concern about the dangers of consumers risking their savings in unregulated virtual currencies.
