Yeni Malatyaspor, a Turkish first division football team, recently entered into a partnership with the BtcTurk cryptocurrency exchange.
BtcTurk is currently Turkey’s largest national exchange and has been open since 2013.
The details of the partnership
As can be read on Reddit, the partnership involves the sponsorship of the Yeni Malatyaspor club which, in return, will wear the logo of the exchange on its shirt this season 2019/20.
The news comes shortly after Manchester City, one of the best-known English football teams in the world, announced a partnership with Superbloke, a South Korean blockchain startup that develops football video games.
This is the first sponsorship between a cryptocurrency exchange and a major sports club.
A Reddit user also said he saw a banner of the BtcTurk exchange in the last game played by Yeni Malatyaspor and Alanyaspor.
Özgür Güneri, CEO of BtcTurk, said:
“We are excited to make another breakthrough in our country and in the world, bringing Yeni Malatyaspor, one of the successful clubs in Turkey Super League and BtcTurk together. With this agreement, we have taken a significant step to increase awareness towards Bitcoin and contribute to healthy growth of cryptocurrency industry in Turkey as well”.
The role of cryptocurrencies in Turkey
Cryptocurrency and especially bitcoin (BTC), are increasingly gaining momentum in Turkey.
In fact, mostly due to the inflation of the national currency, the Turkish lira, many investors and citizens are seeking refuge in bitcoin. BTC is increasingly regarded as a safe haven asset similar to gold.
According to a recent Statista study, as many as one in five Turks holds or uses cryptocurrencies.
In addition, Turkey is developing a digital currency issued by its central bank, with the hope of launching it in 2023.