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January 23, 2023

Crypto Exchange Coinbase Secures Big Sponsorship With Iconic German Soccer Team: Report

By Rhodilee Jean Dolor

US-based crypto exchange Coinbase is reportedly set to become a premium partner of German soccer team Borussia Dortmund (BVB).

According to a report from Handelsblatt, the largest crypto trading platform in the US will get more sponsorship arrangements with BVB once Germany’s primary football league, the Bundesliga, resumes after the winter break. 

Coinbase has been BVB’s partner since July last year, with the trading platform providing crypto education to the sports club’s employees. 

The expanded partnership will enable the exchange to get perimeter advertising and cam carpets in Signal Iduna Parl – BVB’s home and Germany’s largest football stadium – and exposure on the team’s social media and other marketing channels.

The duration of the partnership is until the end of June this year, with BVB managing director Carsten Cramer saying the club wants to keep its options open.

“The industry is very exciting, but still new. That’s why we want to keep our flexibility open.”

In 2021, Coinbase received a license for crypto custody and trading from the German Federal Financial Supervisory Authority (BaFin). Cramer says they are delighted to expand their partnership with a standards-compliant platform.

“The granting of the license by BaFin is the clear signal for us as BVB to now have such a partner at our side in a segment that is still very new and often confusing for non-insiders.”

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Featured Image: Shutterstock/Yurchanka Siarhei