Arsenal becomes first major sports team to partner with a cryptocurrency

Arsenal football club has signed a sponsorship deal with the US cryptocurrency CashBet, which will see the Premier League club promote the firm’s initial coin offering (ICO) at the 60,000-seat Emirates stadium.

According to a report by The Guardian, the deal is the first time a major global sporting team has officially partnered with a cryptocurrency firm.

“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,” said Arsenal CCO Vinai Venkatesham.

CashBet said it was delighted to be able to secure a deal with Arsenal as the firm is “actively targeting a global, multibillion-dollar marketplace of i-gaming content providers, operators and players”.

Following the announcement, UK Prime Minister Theresa May on Thursday promised to consider clamping down on cryptocurrencies bitcoin as she raised concerns that cryptocurrencies are being used by criminals.

“In areas like cryptocurrencies, like Bitcoin, we should be looking at these very seriously,” May said in a television interview in Davos with Bloomberg.

Action on cryptocurrencies may be needed “precisely because of the way they are used, particularly by criminals,” she said.

Read: Bitcoin forking craze to rise in 2018

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