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Leading US-based cryptocurrency exchange Coinbase has expanded its partnership with German soccer team Borussia Dortmund (BVB) to include advertising at stadiums and promotions on all BVB marketing channels. .
According to a recent blog post by Borussia Dortmund, Coinbase has doubled down on its partnership with BVB, making it a premium partner. As part of the new expanded partnership, Coinbase-branded advertising will appear through adverts around his SIGNAL IDUNA PARK in Dortmund, Germany’s largest football stadium, and through cam his carpets.
Coinbase started a partnership with BVB last July. As part of the deal, Coinbase ads were shown on video screens during his home games at stadiums. The exchange also offered BVB employees a workshop on cryptocurrencies. BVB Managing Director Carsten Kramer said:
“The world of cryptocurrencies offers exciting opportunities and it is important for us to work with a reliable partner in this promising field. A clear signal to have such a partner. It’s still a very new and often confusing segment for non-insiders. ”
The stadium did not disclose the terms of the deal, including the amount Coinbase spent to enter into the partnership. The contract is due to expire by the end of June this year.
Coinbase is the largest cryptocurrency exchange in the United States. The exchange is also available in over 100 countries around the world, including Germany.
In 2021, Coinbase will be licensed by the German Federal Financial Supervisory Authority (BaFin) for cryptocurrency custody and proprietary trading. Coinbase Vice President and Regional Managing Director Daniel Seyfert said:
“We are delighted to deepen our commitment to the German market and look forward to working with BVB. Coinbase with its crypto platform and Borussia Dortmund with its sports arena both symbolize innovation, trust and responsibility. We believe in the crypto economy and are ready to shape the future with us.”
It’s worth noting that Coinbase has suffered a lot of problems lately. Earlier this month, the exchange announced his third layoff in less than a year amid an ongoing bear market, cutting a total of 950 employees, or 20% of his workforce.
The company also revealed that it will be exiting Japan due to market conditions. His Coinbase stock, which went public in April 2021 and hit an all-time high of around $370, has since plummeted, losing nearly 90% of its value compared to all-time highs.
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