BTCNN
BTCNN
BTCNN aim to be the key source for both digital currency experts and newbies. With the cryptocurrency industry growing so fast we want to educate our readers about all the latest developments as they happen.

S.L. Benfica and UTRUST Partners, Bringing Cryptocurrencies To 14 Million Soccer Fans

A popular Portugal-based football club, S.L. Benfica recently partnered with popular fintech firm, UTRUST. The new partnership enables the club’s football fans to pay for game tickets, purchase merchandizes on the club’s online store, among others, using the two topmost cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH).

According to UTRUST’s statement, Benfica’s decision to accept cryptocurrencies will cut down transaction times, since it took a couple of minutes to get transactions validated on the blockchain.

Accepting cryptocurrencies, as explained, will also eliminate chargebacks, which sometimes occur with credit or debit card payments.

“The core of UTRUST’s technology will allow Benfica to take advantage of the increased security and convenience of cryptocurrency payments whilst protecting the club from market volatility. It will also significantly reduce processing fees and eliminate inconvenient credit-card chargebacks and fraudulent payments. Most importantly, Benfica will be able to settle payments directly to its bank in fiat on the very same day they are received.”

This, however, is good news for all parties involved. Fans who are crypto lovers now have one more way to spend their crypto assets. Regarding the club, there is a very high chance it may be adding up to its already wide global fanbase of about 14 million fans. And for UTRUST, hitting another milestone and continuing on its mission to making cryptocurrency much usable for everyday life.

Crypto + Soccer

There’s been a couple of marriages in the past between soccer teams and cryptocurrencies.

BTCNN back in December of 2018 reported about a Brazilian soccer club launching its own cryptocurrencies for its fans.

In the same month, a Dutch cryptocurrency firm, Libereum acquired a Spanish football club, Elche CF.

Also, in April 2019, Justin Sun, Tron’s founder had hinted the community about the upcoming partnership between its project, Tron and Liverpool FC, the famous English club side.

The Effect Of This Partnership On Global Adoption

This new development is a healthy one. Hopefully, this will not just appeal to bitcoin and ethereum holders alone but also bring the awareness needed for the crypto industry – bringing these cryptocurrencies to about 14 million people globally. And when this happens, it could be the moment everyone has been awaiting.

Latest articles

Crypto Long & Short: The OCC’s Stablecoin Statement Is a Seed of Financial Innovation

Noelle Acheson talks about how the latest OCC statement that says banks can support stablecoin reserves is an innovation trigger in disguise.

Bitcoin Sets Record 63 Straight Days Closing Above $10,000

Bitcoin has closed above $10,000 since July 27.

Ethereum Rejects at High Time Frame Resistance as Analysts Target $280

Ethereum’s price has been closely tracking that of Bitcoin over the past few days and weeks This has led the cryptocurrency’s bulls and bears to...

Bitcoin’s Macro Structure Indicates Push to $12,600 Could be Imminent

Bitcoin and the entire crypto market has faced some heightened selling pressure throughout the past day, with bears moving to regain control of BTC This...

Forget Nick Fury, Marvel’s Luke Cage Deserves a Disney+ Resurrection

Forget Nick Fury, Marvel’s Luke Cage Deserves a Disney+ Resurrection CCN.com - News & Blazing Op-Eds Samuel L. Jackson is slated to return as Nick...