Arsenal has announced a partnership with CashBet Coin as the club’s first official cryptocurrency partner and official blockchain partner. The club made the announcement on its website.
The first-of-its-kind deal sees Arsenal become the first major team in world football to officially partner with a cryptocurrency.
Vinai Venkatesham, Arsenal’s chief commercial officer, said: “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.”
The partnership will help CashBet Coin build global brand awareness through Arsenal’s extensive digital and social media platforms, and through the creation of bespoke content with the club’s players.
Dr. Mike Reaves, CEO and founder of CashBet, said: “With our ICO for CashBet Coin, we are actively targeting a global, multi-billion dollar marketplace of iGaming content providers, operators and players.
“We are delighted to do so in partnership with one of world football’s true giants in Arsenal, enabling us to build our brand and engage this audience in a meaningful way,” he said.
CashBet Coin will be launched on 24th January via an Initial Coin Offering (ICO). It aims to raise $40m by getting investors to buy CashBet Coins which can then be used to bet on its various online games.