Crypto.com Becomes A Formula 1 Race Sponsor In The 2021 Sprint Series

F1 sponsored Crypto.com trading platform (Crypto.com)

JAKARTA – Crypto trading platform Crypto.com has reportedly partnered with Formula 1 for this year's race series. Crypto.com will go global in a series that will start on July 17.

According to a CNBC International report, the platform will be the official crypto sponsor in the race series, NFT, and partnership with F1. The agreement resulted in the disbursement of funds amounting to USD 100 million (approximately IDR 1.4 trillion).

“We will rely heavily on [Crypto.com's] capabilities as we explore the world of cryptocurrency, an area we are very interested in, and this will be the first time as a sport. We can offer fans the opportunity to explore this exciting thing. As the world (develops) we are increasingly increasing our digital presence”, said Formula 1 Director of Commercial Partnerships, Ben Pincus, quoted by Bitcoin News.

In this F1 race, drivers will have the opportunity to get this Cryptocurrency award. The plan will be announced before the Belgian Grand Prix is held on August 29.

“Both of us, at our core, are technology organizations focused on innovation”, said Crypto.com CEO and founder Kris Marszalek as quoted by Cointelegraph.

Both parties also agreed to reduce carbon emissions by 0 percent by 2030. This proves that the agreement also pays attention to future climate issues.

“It is in the DNA of organizations like ours to find smart technology solutions to difficult problems like tackling climate change”.

Previously, Crypto.com had collaborated with one of the Aston Martin F1 racing teams. They have also been sponsors of the Coppa Italia final some time ago. The collaboration will be a suggestion to campaign for cryptocurrencies to the public.