XBTO, Inter Miami jersey deal is first crypto partnership in MLS

XBTO's jersey sponsorship with Inter Miami marks the "first cryptofinance partnership deal" in MLS, and it marks another step toward the "mainstream acceptance of crypto, which has been getting more involved in sports sponsorships," according to Michelle Kaufman of the MIAMI HERALD. XBTO signed a multiyear deal to sponsor Inter Miami's primary and secondary jerseys that is "among the biggest deals in MLS to date." Inter Miami was one of only two of the 27 MLS clubs that "did not have a jersey sponsor." The club will "debut the XBTO logo shirts" tomorrow for the team’s home match against the Red Bulls. XBTO provides "cryptofinance trading and liquidity pricing services to the world’s most established exchanges." An early adopter of cryptofinance and a "known pioneer within the industry," XBTO was the "first to provide institutional-grade liquidity to major trading platforms." Inter Miami’s ownership group "already had ties to crypto exchange." Inter Miami Chair Marcelo Claure is CEO of SoftBank Group, which through its $5B Latin America Fund in July "invested $200 million in Brazil-based MercadoBitcoin, Latin America’s largest crypto exchange platform." Crypto exchange company FTX recently signed a $135M naming-rights deal for the Heat's arena (MIAMI HERALD, 9/16).

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