The British car manufacturer, Aston Martin, has announced a partnership with cryptocurrency exchange firm, Crypto.com. As a result of this partnership, the logo of Crypto.com will be emblazoned on the body of the Aston Martin’s cars that will participate in the new 2020/21 Formula 1 season. This is as Aston Martin returns to the Formula 1 stage after about 61 years of absence.
While the financial details of the deal remain unknown to the public, it is said that the deal will run for a couple of years, and it will cover Aston Martin’s F1 team within that period.
What It Means For Crypto.com
With its logo adorned on the F1 car, it will spell more exposure for a cryptocurrency exchange organization which recently saw its users exceed the 10 million mark. This partnership will further raise awareness of cryptocurrency and blockchains, and it is expected that among the over 87 million people expected to watch the races, a good number will be influenced to engage in crypto trading, seeing that it is becoming a global enterprise.
The leading crypto exchange organization could further leverage their partnership with Aston Martin to promote other crypto-based products and services. A notable service which it could display is its debit card program, which back in 2020, the company claimed to have the most widely available Visa cards following its exploits in Europe.
This announcement back in May 2020 came at the back of its MCO Visa card roll out in Canada and other countries, further strengthening the possibilities of cryptocurrencies being used as a standard means of payments world over.
In the exact words of Crypto.com co-founder and CEO, Kris Marszalek: “The fact that a cryptocurrency company can go out there and make a statement like this, and align with such a well-respected brand with such a huge tradition as Aston Martin, it makes a statement that the industry is maturing.”
What’s Next For Aston Martin?
The car maker widely known for its appearance in James Bond movies will make a comeback into the Formula 1 space not only with Crypto.com’s logo on the body of their cars, but also with a desire to understand the specifics of cryptocurrencies. The commercial managing director of the manufacturer, Jefferson Slack has already reiterated their desire to work alongside Crypto.com in view of gaining a wider understanding of what cryptocurrency entails.
The company have previously stated their interest in nonfungible token markets as well as payments systems; a niche which Crypto.com is already a major stakeholder in.
With the latest partnership between Crypto.com and Aston Martin, the doors of crypto firm partnerships with sporting organizations and public infrastructures have been firmly flung open. It is therefore expected that in the nearest future, many more partnerships shall occur as cryptocurrencies continue to gain popularity in the public domain.