Crypto.com announces global partnership with Formula 1 racing series

Crypto.com has announced that it will partner with Formula 1 in its racing series this year.

Crypto.com announces global partnership with Formula 1 racing series

Formula 1 announced that Crypto.com would be the new global and inaugural partner for its 2021 Sprint series, scheduled to begin on July 17. 

According to the agreement, the exchange will become the racing series’ official cryptocurrency sponsor and NFT partner.

“We will rely heavily on expertise as we explore the world of cryptocurrency, an area we are very interested in, and this will be the first time as a sport we are able to offer fans the opportunity to explore this exciting world as we further increase our digital presence,” said Ben Pincus, Formula 1’s director of commercial partnerships.

Formula 1 emphasized that racers would have the opportunity to win the crypto-themed award, which will be announced prior to the Belgian Grand Prix event on Aug. 29. 

The racing series has also announced its intention to follow Crypto.com’s May commitment to become carbon negative within 18 months, saying it plans to be net zero carbon as a sport by 2030. 

Although, Crypto.com has already partnered with Aston Martin’s team at Formula 1 events. At the time, Marszalek said the exchange would be looking to leverage the collaboration to promote other cryptocurrency-related products. 

Read: Deutsche Boerse acquires majority stake in Crypto Finance AG

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