Digital finance giant Coinbase, specializing in cryptocurrencies, has signed a deal with the Aston Martin Aramco F1 Team. Here’s the official announcement and key details.
There’s a new sponsor for Lawrence Stroll and the Aston Martin Aramco F1 Team: Coinbase, a major player in the cryptocurrency world, is now the “Official Crypto Partner” of the Silverstone-based team. Below is the official statement released on Aston Martin’s official channels.
The Official Announcement
Founded in 2012, Coinbase plays a key role in making cryptocurrencies more accessible and secure for users worldwide. Currently, over 560 million people own cryptocurrency globally.
The multi-year partnership aims to strengthen Coinbase’s mission of demonstrating that cryptocurrencies are a key to greater economic freedom on a global scale. It will also communicate Coinbase’s goal of making it easier for anyone to engage with cryptocurrency today.
For example, with Aston Martin Aramco, the entire partnership payment will be made in USDC, a stable digital currency designed to be pegged 1:1 to the U.S. dollar. This marks the first time a Formula 1 team has publicly announced a full partnership payment through a stablecoin like USDC.
As part of the collaboration, Aston Martin Aramco will explore new opportunities to engage fans through blockchain technology. Coinbase branding will debut on the halo and rear-wing end plates of the AMR25 throughout the season, as well as on the racing suits of Fernando Alonso and Lance Stroll.
Statements of the key figures
Jefferson Slack, Managing Director of Commercial at Aston Martin Aramco Formula One Team, stated: “This partnership demonstrates the trust we place in Coinbase’s expertise as a leader in digital finance. Completing this deal entirely in USDC is a signal of our commitment to innovation, building a sustainable and forward-thinking relationship with Coinbase.”
Gary Sun, Vice President of Marketing at Coinbase, added: “This is a significant milestone for Coinbase, marking the first time we’ve invested in a sports partnership entirely in cryptocurrency. It is also our debut in Formula 1, and we are excited to embrace an industry that shares our values of innovation and transformative technology. We look forward to developing this collaboration with Aston Martin Aramco as we work to promote greater economic freedom globally.”
Photo: Aston Martin Aramco F1 Team