Argentine Football Association Announces 5-Year Sponsorship Partnership with Binance

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The Argentine Football Association (AFA) has announced a partnership with crypto exchange, Binance.

Under the terms of the 5-year agreement, Binance will become:

  • A nominative sponsor of the Argentina national football team
  • A nominative sponsor of the Argentinian Football Premier League
  • An Official Fan Token Provider of the Argentine Football Premier League

Argentina’s football governing body, the AFA, also has a partnership with Chilliz’ Platform, Socios.comwhich has launched a national team Fan Token and serves as the title sponsor of the top football league for the 2021 season.

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Additionally, in late 2021, the AFA signed a naming rights agreement with per bit, another cryptocurrency exchange, in a two-year partnership. The sports body has previously described itself as one of the “quickest” national associations to capitalize on cryptocurrency.

Speaking of AFA’s objectives, Leandro Petersen, Sales and Marketing Director, AFA, said:

“This agreement with Binance is strategic because it meets all the objectives we have set ourselves and leads us to work with the world leader in this field.”

– Sales and Marketing Manager, AFA

For Binance, Argentina is a key opportunity based on its adoption of cryptocurrencies.

According to Binance, the country is on the cusp of massive blockchain adoption, showing an openness to the use of crypto, as evidenced by its support for crypto payments on public transport and ATMs.

Argentina’s economy also suffered from a recession and the local currency lost half its value as inflation hit 31.2%.

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RECOMMENDED READING: Crypto Meets High Level Sports – Inside the Million Dollar PlayBook FTX and Crypto.com

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