Cryptocurrency exchange Kraken is now one of the official sponsors of the Spanish football club Atletico Madrid.
The new partnership, which will become effective this 2024 season, makes Kraken the official crypto and Web3.0 partner of the club.
Additionally, Kraken will serve as the Official Sleeve Partner for both the club’s men’s and women’s football shirts of Atlético de Madrid. Noteworthy, the partnership is a significant move that underscores the adoption and integration of the Web3.0 ecosystem with other sectors. In this case, the sports industry.
We are excited to announce our partnership with @Atleti!
Together, we are advancing crypto adoption both on and off the pitch. Starting from the 2024/25 season, our logo will proudly appear on the sleeves of Atletico Madrid’s playing kits. ❤️ 🤍 pic.twitter.com/IJKiLhf5dl
— Kraken Exchange (@krakenfx) July 10, 2024
Significantly, the focus of the alliance is to provide more opportunities for both parties involved and their supporters. For Kraken, it could be an avenue for it to drive global innovation and increase its users base and engagement. Its support for the Spanish football club could drive non-crypto fans into the digital asset industry.
“Together, we are advancing crypto adoption both on and off the pitch. Starting from the 2024/25 season, our logo will proudly appear on the sleeves of Atletico Madrid’s playing kits,” Kraken wrote on X.
In the next few months, Kraken may see a reasonable surge in its users base, big enough that it could be traced back to its alliance with Atletico Madrid. Such collaboration between a crypto exchange and a sports team is not a new occurrence in the industry.
At the beginning of this year, prominent crypto ecosystem BingX became the Official Sleeve Partner for Chelsea’s Men’s Playing Kits. This was BingX’s first foray into the realm of sports and entertainment.
Beside this recent development, Kraken has been busy with other developments and expansion plans.
The digital asset firm is considering final funding round ahead of a prospective Initial Public Offering (IPO). According to some sources, Kraken is looking to raise $100 million in the new funding round. The plan is to complete the IPO as early as next year and this has led to the search for a “marquee” to join its board for a successful IPO.
In the meantime, Kraken co-founder and CEO Jesse Powell, has personally donated $1 million in Ethereum to Donald Trump’s campaign. This contribution is geared towards the upcoming 2024 United States elections.
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