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Binance, the world’s largest cryptocurrency exchange by trading volume, has inked a deal with the Argentine Football Association (AFA). The football association regards the agreement as ‘one of the most important commercial contracts signed by AFA in recent years.’
Binance Joins the AFA Family
According to a report from sports publication, Insider Sport, the Argentine Football Association (AFA) has extended its relationship with Binance with a five-year deal that names the company as the main global sponsor of the national teams and the naming sponsor of the Professional Soccer League. The collaboration also sees the crypto platform developing the official fan token of AFA which is currently trading at $0.8759 at the time of writing. “This agreement reinforces that strategy and adds an innovative multinational with a vision important for the future, in a new world like cryptocurrencies and fan tokens, where together we can grow and generate new sources of income for AFA and Pro League clubs. We welcome Binance to the AFA family”, the publication cited Claudio Tapia, President of AFA regarding the deal.
Bybit Also Partnered With Argentina
This is not the first time Argentina’s national team has partnered with a cryptocurrency platform. In Nov 2021, the soccer team also partnered with another crypto exchange Bybit. According to the terms of the agreement, Lionel Messi, the captain of the club and his teammates will wear the company’s logo on their training apparel until November 2023.