Crypto Exchange Upbit Strikes Deal with Italian Football Club Napoli

Tuesday, 03/01/2023 | 18:23 GMT by Solomon Oladipupo

Upbit's branding will appear on the back side of the club's players' shirts.

Recently, Ebury inked a sponsorship deal with another Italian football club.

Upbit, a South Korea-based crypto exchange, has signed a back-of-shirt partnership agreement with the Italian football club SSC Napoli. The deal will remain active until the end of the 2023/24 season of the Series A and Coppa Italia football contests.

Napoli Looks Towards International Markets in Upbit Partnership

Speaking on the deal, Tommaso Bianchini, Napoli’s Chief International Development Officer, noted that the partnership is evidence of the club’s positive inclination towards the international markets and advanced technology in a continuous bid to improve its global brand.

“This partnership enshrines the union of two game-changers in their respective sectors, underlining the objective of a future vision where innovation and technology are at the heart of the project,” Bianchini explained.

Also speaking on the agreement, Sirgoo Lee, the CEO of Dunamu, expressed excitement at collaborating with one of the world’s top football clubs. "We look forward to finding more meaningful collaborations throughout the season,” Lee said.

Other Recent Fintech-Football Deals

In recent months, fintech and forex brokerage companies have entered deals with various football clubs. In early December 2022, the financial services firm Ebury inked a sponsorship deal with another Italian football club, Parma Calcio 1913, becoming its official training kit partner. This means that Ebury’s brand is now part of the football club’s training kit and shirts.

Earlier in October, the forex and CFD broker RoboForex signed a sponsorship deal with the Peru football club Cienciano. Although the financial terms of the deal were not disclosed, both partners signed a contract for the 2022/2023 season.

However, while financial firms played a critical role in assuaging the football industry’s downtime following the COVID-19 pandemic, questions remain as to whether sports partners can be held accountable for fraud in situations such as that of the failed crypto exchange FTX which entered several million-dollars sports sponsorship deals during its heydays.