Arsenal Football Club Signs World-first Cryptocurrency Partnership with CashBet Coin


The partnership makes Arsenal "the first major team in world football to officially partner with a cryptocurrency", CashBet said in a statement.

Online gaming agency CashBet will soon be promoting a new cryptocurrency at Arsenal home games.

And CashBet Coin will be advertised at Arsenal's Emirates Stadium, with CashBet to use Arsenal's brand to promote the new tokens.

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Mobile-first iGaming platforms provider CashBet announced a partnership with English Premier League football club Arsenal ahead of the initial coin offering of its new cryptocurrency, CashBet Coin, which was designed specifically for iGaming. Other casinos take up to four days to process a winner's payments, CashBet claims, and the gaming company says its cryptocurrency can pay players instantly.

Chief Commercial Officer (CCO) of Arsenal, Vinai Venkatesham, confirmed that the team is happy to welcome the new altcoin in the industry on board as a partner, stating that they are looking forward to working alongside the digital currency start-up as the company launches its new cryptocurrency. Worth noticing that the industry of online gambling remains lucrative for investors after reported $43 billion market revenue a year ago. The ICO kicked off yesterday at 17:00 UTC, and will end on February 20 at 17:00 UTC unless the hard cap is reached before that date.

Integrating blockchain into the CashBet platform will open new markets by "democratizing access" for a new group of users now underserved by the banks, he continued. The ICO's pre-sale phase launched yesterday, while a public sale is scheduled to start on March 20. Purchases of Cashbet Coin (CBC ) are available with Bitcoin, Ethereum, and Litecoin. The company hopes the ICO will raise between $40 million-$70 million.