Tether – the company behind the biggest stablecoin in terms of market capitalization, USDT – announced the acquisition of a minority ownership stake in Juventus.
The latter is the most successful football club in Italy, having won the domestic Serie A championship a record 36 times. According to some studies, it also has the largest fan base in the country.
Tether Solidifies Its Presence In the Sports World
According to a document shared with CryptoPotato, this strategic investment allows Tether to integrate its digital assets, payments, and newly acquired AI and biotech expertise into the sports industry. The company might also assemble a top-tier advisory team for this initiative.
Additionally, acquiring a minority stake in Juve (as the team’s nickname is) will allow Tether to promote blockchain technology and stablecoin adoption in mainstream sectors such as the sports world. Speaking on the deal was the company’s chief executive officer – Paolo Ardoino:
“Aligned with our strategic investment in Juve, Tether will be a pioneer in merging new technologies, such as digital assets, AI, and biotech, with the well-established sports industry to drive change globally. We will explore avenues for innovative collaborations and the potential to revolutionize the global sports landscape.”
It is important to note that this is not the company’s first interaction with a football team. In 2023, Plan ₿, an initiative founded by Tether and the City of Lugano, announced its official sole kit sponsorship of FC Lugano, a professional football club that competes in the Swiss Super League.
The company behind the USDT stablecoin has also collaborated with Juan Sartori, whose extensive experience includes involvement with the English football team Sunderland AFC, the French AS Monaco, and the European Club Association.
Crypto and Italian Football
Juve first engaged with the cryptocurrency sector in September 2018 by partnering with blockchain platform Socios.com to launch the Juventus Official Fan Token. Last year, it named Zondacrypto its new sleeve sponsor and official crypto exchange partner, further solidifying its presence in the industry.
Other Italian football clubs that have shaken hands with entities representing the digital asset sector include AC Milan which inked a sponsorship deal with BitMEX, SSC Napoli which teamed up with Upbit, and more.
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!
Credit: Source link
