FINANCE: Cyprus-based CoinDeal goes high-profile with Wolves shirt-sponsorship

With the new Premier League season officially kicking-off on Friday digital currency will be in the mix as Cyprus-based cryptocurrency exchange CoinDeal is a sponsor of top-flight team Wolverhampton Wanderers (Wolves).

CoinDeal is visible on the sleeve of the Wolves shirt, giving it exposure to tens of millions who watch the English Premier League around the world.

It is the first time that cryptocurrency exchange has platform teamed-up with a top-flight football team.

Wolves were promoted from the Championship last season and their first Premier League game is home to Everton on Saturday evening.

The West Midlands club has a huge fan base and Wolves spent big in the transfer window landing quality signings like Portuguese international Joao Moutinho.

The deal is the first ever sports sponsorship deal involving a cryptocurrency exchange platform, a development that could see the cryptocurrency and blockchain community joining the mainstream.

The CoinDeal logo will feature on all of Wolves’ training kits which should help drive increased awareness and education around CoinDeal and cryptocurrencies in general.

Additional rights include significant signage around the stadium, LEDs and branding of the first team dugout.

Carlos Grenoir the CEO of specialised sports social network Olyseum says having a crypto exchange promoted by a football club will attract more people to crypto.

“If we are to gain mainstream adoption, it’s important that people learn to see beyond price volatility and speculation, and instead focus on the real-life disruptive potential of cryptocurrencies and blockchain,” Grenoir was reported as saying by EconoTimes website.

“This is a smart, strategic move from CoinDeal and I believe we will see more companies in the blockchain space follow suit,” he added.

CoinDeal is a relatively young cryptocurrency exchange platform, having been founded in March 2018.