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Aston Martin F1 Embraces Crypto, Becomes First Team with Blockchain Deal

Aston Martin has secured a groundbreaking multi-year sponsorship deal with cryptocurrency exchange platform Coinbase. This is the first Formula One team to confirm full payment in digital currency publicly. The agreement, unveiled on Friday, settles all payments between parties in USDC, a stablecoin pegged to the U.S. dollar at a 1:1 ratio.

Aston Martin’s partnership with Coinbase establishes a key point in motorsports development because cryptocurrency has shown growing popularity throughout motorsports events worldwide. While several Formula One teams have secured sponsorships with digital asset companies, this is the first instance in which a team has confirmed receiving full payment in a stablecoin.

Aston Martin F1 Embraces Crypto, Becomes First Team with Blockchain Deal

Aston Martin has secured a groundbreaking multi-year sponsorship deal with cryptocurrency exchange platform Coinbase. This is the first Formula One team to confirm full payment in digital currency publicly. The agreement, unveiled on Friday, settles all payments between parties in USDC, a stablecoin pegged to the U.S. dollar at a 1:1 ratio.

Aston Martin’s partnership with Coinbase establishes a key point in motorsports development because cryptocurrency has shown growing popularity throughout motorsports events worldwide. While several Formula One teams have secured sponsorships with digital asset companies, this is the first instance in which a team has confirmed receiving full payment in a stablecoin.

https://www.crypto-news-flash.com/aston-martin-f1-embraces-crypto