The Israel-based eToro investment platform, which has a global presence, has recently entered into a partnership with seven English Premier League football clubs. In this historic deal, eToro will make payments to the players of the said clubs using Bitcoin. For the company, it is definitely a big win, but not the first one – the arrangement of partnerships already has been the part of the platform’s business agenda.
New Premier League Partnership: What does it entail?
As you can see, eToro has been amplifying its brand recognition for quite a while. Yet the social trading company has recently found another partnership opportunity – with 7 clubs of the English Football Premier League.
In this eToro and 7 PL clubs partnership, the football clubs are to set up digital cryptocurrency wallets with the Israel-based investment platform. The deal which was entered to with the help of SportQuake, a sports marketing agency, will see the clubs’ players get payments in Bitcoins through the eToro wallets. The football clubs are Brighton and Hove Albion F.C, Southampton F.C, Tottenham Hotspur F.C, Leicester City F.C, Cardiff City F.C, Newcastle United F.C and Crystal Palace F.C.
In a tweet through the company’s official handle, Iqbal V. Gandham, eToro UK MD announced the new partnership. Blockchain can now improve the experience for everyone who loves this ‘beautiful game’, he said.
The announcement will also see the US customers gain access to cryptocurrency on eToro platform for the first time.
What the official press release said
According to eToro, the new partnership set a very important milestone in the usage and the adoption of digital assets in the football world. The company further notes that blockchain technology and crypto assets in sports will contribute toward solving the transparency and ‘ticket touting’ issues. This move will also go a long way into ensuring that the authenticity of merchandise is guaranteed.
eToro is going to gain international visibility which will be achieved through the sold tickets, matchday LED boards, player access, and digital rights.
In the past, the firm has been at the forefront when it comes to cryptocurrency adoption. In 2017, for example, the firm announced that its customers could start selling and buying cryptos such as Litecoin, Ripple, and Ether on its platform. However, customers were not allowed to withdraw or deposit from their accounts.
The investment firm further announced in May 2018 that it would be launching a crypto exchange platform with a wallet service.
The new deal certainly deserves your attention, but we would also like to provide you with a snapshot of the eToro partnership and sponsorship history to see their pathway from to A to Z.
eToro strucks a commercial partnership deal with West Ham United
For eToro, the acquaintance with Premier League clubs started even before the recent deal. In 2015, the company signed a partnership agreement with West Ham United for the 3-year term. With the partnership set up, eToro gained access to the club’s digital as well as social media channels. This was used to aggrandize the popularity of eToro brand, especially with the possibility to market its services to the Hammers fans.
The Commercial Director of the WHU, Felicity Croft, said that it had been a great deal for the club to attract such a global and successful player in the trading sector. The CEO of eToro, Yoni Assia, also added that the deal allowed to strengthen the eToro brand in the UK and across the world.
Partnership agreement between eToro and Sberbank
Next year, after the West Ham United deal, eToro sealed the partnership with Sberbank, the largest Russian lender that controls at least one-third of the banking sector in the country. In 2016, eToro and Sberbank decided to create a joint venture with an aim to deliver the eToro services to the Russian investors and traders.
More specifically, the joint venture allowed the clients of Sberbank to get the full access to the pool of social trading investors at eToro. For Russia, this opened the doors for a huge market.
eToro CEO commented on the deal by stressing that joining forces with Sberbank would allow building the largest social trading network in Russia. In this new alliance, eToro brought in the state-of-the-art technology, while Sberbank has a genuinely strong presence in the market and well-recognized brand.
Sberbank Chairman, Herman Gref, also praised the newly established cooperation with the social trading giant. He emphasized that it would enable their clients to utilize the skills of the social trading community at the brokerage.
eToro Sponsorship with Gael Monfils
Gael Monfils, 31-year old French tennis player, has been an eToro client since 2017. The sportsman has chosen eToro as his platform for trading the cryptocurrency markets. However, the Israel-based platform decided to push the relationship on a whole new level and put the sponsorship deal on the table, which Monfils accepted in July 2018. Once the agreement was reached, Monfils officially became the global ambassador for the social trading platform. Since then, the professional tennis player has been encouraging others to join eToro.