Cryptocurrency exchange Bitget has announced a multi-million dollar partnership with the legendary Spanish football league La Liga at the just-concluded Token 2049 event in Singapore.

Strategic Partnership with Global Reach

In a statement released by Bitget on September 19, the Seychelles-based cryptocurrency exchange said the alliance is part of its efforts to strengthen its position in Asia and Latin America, where football is hugely popular.

La Liga is home to some of the most successful football teams in the world, including Real Madrid and Barcelona, which boast hundreds of millions of fans worldwide. Games between the two, commonly known as “El Clasico,” are reportedly watched by over 650 million people in over 180 countries.

The league’s clubs boast some of the biggest stars in football, including Kylian Mbappe, Vinicius Jr., and Robert Lewandowski. Bitget expects its indirect connection to such players to give it a huge platform to grow cryptocurrency adoption.

A recent report from Chainalysis shows that of the 20 countries with the highest cryptocurrency adoption rates, 13 are from the two regions Bitget is targeting. India, Indonesia, and Vietnam lead the way in Asia, while Brazil, Venezuela, and Mexico are the highest-ranking countries in Latin America.

Interestingly, these same countries also boast the most ardent support for football: according to Nielsen’s 2022 State of World Football study, Vietnam, Indonesia, and Thailand have some of the highest percentages of people interested in football in Asia.

Boosting Cryptocurrency Adoption in Emerging Markets

The deal, which is reportedly worth millions of dollars, is expected to last up to three years. It is part of Bitget’s commitment to raising awareness of cryptocurrency through sports, in line with its “Make It Count” philosophy.

By teaming up with La Liga, the company aims to bring Web3 solutions to millions of football fans around the world, particularly in Asia and Latin America, where both organizations see significant potential.

Gracie Chen, CEO of Bitget, echoes these sentiments, highlighting the growing connection between cryptocurrency and sports.

“Our partnership with La Liga is about more than just sponsorship. It’s about accelerating the adoption of cryptocurrency in sports and creating exciting opportunities for fans and athletes. We see sports as a powerful way to spread awareness of Web3 and blockchain technologies,”

Confirming Bitget’s entry into the sports market, a recent report from Doors3 shows that 75% of sports fans are hungry for a more personalized and privileged experience, which technologies like non-fungible tokens (NFTs) can offer.

Innovations like these, some of which La Liga has already implemented, are changing the way fans interact with their favourite teams, offering virtual interaction, a voice in club matters and exclusive digital content.