Cryptocurrency: Grabbing eyeballs from Cricket, Hockey to now Formula 1 sponsorship

Cryptocurrency presence is zooming ahead as Hong Kong-based cryptocurrency exchange Crypto.com signs a $100 million sponsorship deal with Formula 1.

Crypto.com with over 10 million users worldwide is the fastest-growing crypto platform globally. The partnership furthers Crypto.com's presence at major sporting events; the exchange sponsored Italian soccer's Coppa Italia final in May. It also signed a deal with the National Hockey League team Montreal Canadiens in March.

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The trend of crypto exchanges stepping into mainstream sports sponsorship is evident in India too. Cryptocurrency exchange and liquidity aggregator CoinDCX Go took on being the co-presenting sponsor for live-streaming of the inaugural World Test Championship Final. While Indian bitcoin exchange platform WazirX picked co-presenting sponsorship of live streaming of Euro 2020 on SonyLIV.

With the battle for financial acceptance and legality for the crypto gang continues in India, the step up to sponsorship is ensuring a global reminder of the growing interest in the blockchain bet.