USDC Cryptocurrency Token Helps Argentine Football Club Sign New Player

The Argentine football club Sao Paulo FC has announced the signing of a contract with a new player — the USDC cryptocurrency token was used to pay for the transfer.

According to local media, the new Sao Paulo player is midfielder Giuliano Galloppo, who previously played for Banfield Athletic Club. The transaction amount for signing Galoppo was between $ 6 and $ 8 million in USDC — the final amount may fluctuate due to the volatility of the Argentine peso due to the high inflation rate in the country. At the end of June, the Central Bank of Argentina announced new restrictions for cryptocurrency holders: investors were banned from buying US dollars to stop the outflow of money from the country.

It is worth noting that the signing of a new player to the Sao Paulo team took place thanks to the cooperation of the FC with the Latin American crypto exchange Bitso. Earlier, Sao Paulo, in partnership with Bitso, announced the Shiba Inu cryptocurrency as its means of payment — sports fans can get to the club’s matches by paying for a ticket with cryptocurrency.