Global crypto exchange Bitget has announced a multi-million dollar partnership with iconic Spanish football league La Liga.
The company revealed the collaboration, which makes it La Liga’s official crypto partner, at the just concluded Token 2049 event in Singapore.
Strategic Partnership with Global Reach
In a statement released by Bitget on September 19, the Seychelles-based crypto exchange said the union is part of its attempts to gain a bigger foothold in Asia and Latin America, where football is hugely popular.
La Liga is home to some of the most successful football teams in the world, including Real Madrid and Barcelona, which boast hundreds of millions of fans worldwide. Games between the two, popularly known as “El Clasico,” are reportedly watched by upwards of 650 million people in over 180 countries.
The league also features some of the biggest stars in football, including Kylian Mbappé, Vinícius Jr., and Robert Lewandowski. With nearly 27 million followers between them on X alone, Bitget expects that its indirect association with such players gives it a massive platform to grow crypto adoption.
A recent report by Chainalysis shows that of the top 20 countries for crypto adoption, 13 come from the two regions Bitget is targeting. India, Indonesia, and Vietnam lead the charge among Asian countries, while Brazil, Venezuela, and Mexico are the highest-rated LATAM nations.
Interestingly, the same set of countries boast some of the most rabid football support, with a 2022 Nielsen survey on the state of world football showing Vietnam, Indonesia, and Thailand having some of the highest percentages of people interested in football in Asia.
Driving Crypto Adoption in Emerging Markets
The deal, reportedly valued at millions of dollars, is set to last for up to three years. It is part of Bitget’s commitment to growing crypto awareness through sports, aligning with its “Make It Count” philosophy.
By teaming up with La Liga, the company is looking to bring Web3 solutions to millions of football fans globally, especially in Asia and Latin America, where both organizations see significant potential.
Gracy Chen, Bitget’s CEO, echoed the sentiments, highlighting the growing connection between crypto and sports.
“Our partnership with La Liga is more than just a sponsorship. It’s about accelerating crypto adoption within sports and creating exciting opportunities for fans and athletes alike. We see sports as a powerful avenue to spread awareness about Web3 and blockchain technology,”
Backing up Bitget’s foray into sports, a recent report from Doors3 indicates that 75% of sports fans are eager for more personalized and privileged experiences, which technologies like Non-Fungible Tokens (NFTs) can offer.
Such innovations, some of which LaLiga has previously adopted, are transforming how supporters engage with their favorite teams, by offering virtual interactions, voting rights on club matters, as well as exclusive digital content.