Coinbase will serve as the Premium Partner of Borussia Dortmund until the end of June, 2023.
The US-based cryptocurrency exchange – Coinbase – reportedly doubled down on its agreement with one of the most successful German soccer teams – Borussia Dortmund .
The deal, which turned the platform into a Premium Partner of the Bundesliga club, will last until the end of June.Coinbase started its partnership with Borussia Dortmund in July last year by running ads on the video screens in the club’s stadium. According to recentFollowing the new terms, Coinbase will serve as BVB’s Premium Partner, promote its products and services on Signal-Iduna-Park , and provide crypto education programs for the team’s employees.
It remains unknown how much Coinbase spent to strike the deal. Borussia Dortmund’s Managing Director – Carsten Cramer – said it will last until the end of June but might get extended depending on the future condition of the cryptocurrency sector:“The industry is very exciting but still new. That’s why we want to keep our flexibility open.”
Cramer added that Coinbase’s BaFin license was a “basic requirement” for striking the partnership. The company is among the few cryptocurrency entities registered with the German financial watchdog. Despite its recent expansion, the exchange has been coping with severe problems during the bear market. It dismissed around 18% of its total workforce last summer andit will stop operating on the Japanese market, citing adverse economic conditions. Local users have until mid-February to withdraw their holdings from the platform, while deposits were halted today .Leading cryptocurrency trading venues, including Binance, Crypto.
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