The reason why cryptocurrencies can be legalized worldwide is given

Luke Ryan, Head of Content at CoinJar, an Australian cryptocurrency exchange, has given a reason why digital assets can be legalized worldwide: according to Ryan, cooperation between crypto platforms and well-known sports teams and their financing will be a key factor in legitimizing the use of cryptocurrencies worldwide.

According to Luke Ryan, it was CoinJar’s partnership with the Australian Football League (AFL) club in 2021 that influenced the attitude of both citizens and the Australian government towards cryptocurrencies. Thus, the exchange became the first crypto company in the country to start financing the AFL.

«Cryptocurrency platforms should sponsor football teams to demonstrate to the world their strength, financial stability, and long-term plans to expand the use of cryptocurrencies,» Luke Ryan explained his point of view. He added that sports partnerships help crypto companies expand their customer base and draw attention to digital assets to more ordinary users.

One of the cryptocurrency companies cooperating with football clubs is OKX exchange. In early July, OKX representatives signed an agreement with Manchester City FC. As explained by OKX, the sponsorship agreement will strengthen the exchange’s position in the crypto market and increase its recognition. Back in March, OKX became the official cryptocurrency exchange of Manchester City.

Interestingly, in early September, a few hours before signing the agreement with UEFA, the exchange giant Crypto.com refused to cooperate with UEFA. Crypto.com representatives did not comment on their decision. The UEFA expressed disappointment, saying that it had planned to form a cooperation designed to offer football fans new opportunities. Earlier it was reported that the cryptocurrency exchange was ready to sign a 5-year contract worth about $ 500 million. The company planned to pay $ 100 million annually to UEFA to have its logo appear on screensavers during broadcasts, as well as on billboards around the football field.