Singapore Based Crypto Trading Platform Bitget Teams Up With LaLiga

Singapore headquarted cryptocurrency platform Bitget has secured a partnership with LaLiga, Spain’s top-tier football league.?

The deal is Bitget’s landmark step into backing a football league, and matches both organisations’ ‘Make It Count’ ethos. Under the deal, both Bitget and LaLiga will mutually reap the benefits of boosting audience engagement and the mainstreaming of cryptocurrency in the sporting landscape. Prior to this deal, Bitget has an ongoing endorsement deal with Argentine icon Lionel Messi.????

Following the announcement,?Bitget’s CEO, Gracy Chen,?stated,?“As the world of sports continues to embrace digital innovation, crypto, blockchain, and emerging technology are becoming integral to this transformation, Partnering with LaLiga allows us to accelerate the growth of crypto in sports, bringing new opportunities for fans and athletes alike.”

With crypto businesses desiring global awareness and football clubs seeking new avenues of revenue and fan engagement,??it is little wonder such deals have been on the rise in recent years. The likes of Crypto.com, Kraken and zondacrypto have all been leveraging on the popularity of European football across the world.?

According to ASN data, the cryptocurrency category??have invested US$121.4m+??since Q421, with the bulk of these commercial deals involving collaborations with major European football clubs and leagues. Presently, Crypto.com (26. 5%), Bybit (23.1%), Tezos (14.1%), Socios.com (12.8%) and FTX (7.8%) are the top 5 spenders for this category while Bitget’s 2.8% share has ensured it shares 7th?place with Binance and Vauld.?

As for Bitget, its spends of??almost US$8.6m since Q421 have been focused in the football world, an ongoing endorsement deal with Argentine superstar Lionel Messi in US$2m per year range and a previous collaboration with Juventus FC.?

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This article was first published in ASN's September 2024 no. 4 newswire.