Race start at the Formula 1 Grand Prix of Russia on 29 September 2019
Race start at the Formula 1 Grand Prix of Russia on 29 September 2019. Shutterstock

Crypto.com has become the first cryptocurrency platform to sponsor a Formula 1 team, the Aston Martin Cognizant Formula One Team, the firm said in a blog post on 2 March.

According to the announcement, the multi-year partnership was signed in order to “bring exclusive experiences and opportunities to traders and fans of the sport”. While details around the deal were not provided, having Crypto.com logo on an F1 car would surely bring more exposure to the platform, which is already the “world’s fastest-growing crypto app”, jumping from 5 million users to more than 10 million in only four months. The co-founder and CEO of Crypto.com, Kris Marszalek, said in a statement:

“In only four years we have built the world’s most secure and fastest-growing cryptocurrency platform serving more than 10 million customers worldwide. We’re proud to be partnering with Aston Martin as they return to Grand Prix racing, especially as the first cryptocurrency platform to be sponsoring an F1 team.”

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2021 will mark the end of Aston Martin’s 61 year absence from the emblematic race, which had an average audience of 87.4 million viewers in 2020. The team is looking to create an impact on the grid with its two drivers — Sebastian Vettel and Lance Stroll — as well as stir its fanbase with a new free-to-join membership programme.

By choosing to support such an excellent team, Crypto.com will without a doubt expand its commercial footprint. The firm has already entered the crypto debit card market, and has claimed to have the “most widely available crypto card in the world”, which is accepted in all 27 E.U. member states, as well as Switzerland, Iceland, Norway and the U.K..

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