Brisbane-based cryptocurrency exchange Swyftx has signed a major three-year sponsorship deal with the Australian National Rugby League (NRL).
Swyftx is registered in Australia and New Zealand and offers trading services for approximately 300 digital assets. The firm was founded in 2018, and the deal with NRL marks another milestone in promoting the local crypto and blockchain sector to sports enthusiasts: the Australian Football League women’s competition has already signed a contract with Crypto. Com for $25 million over five years.
The latest deal will cover NRL, Women’s NRL (NRLW), State of Origin and All-Star games. There is also the possibility of a fourth year extension until the end of 2026.
The Swyftx branding will be displayed on LED signage in stadiums and virtually on TV broadcasts, and its name will also be displayed on the NRL’s in-game review and decision board, which will be called “Swyftx Bunker” in 2023.
Swyftx CEO Ryan Parsons told Cointelegraph that Australia is “seeing a near-instantaneous adoption of cryptocurrency,” highlighting the importance of the deal:
“The partnerships we are currently seeing represent a sign of growing confidence in the future of cryptocurrencies and its potential for mainstream adoption. The real question now is not whether crypto will remain, but how quickly it will change the future of the global economy and traditional financial services.”
Asked why crypto exchanges such as Swyftx, Crypto.com and FTX are actively seeking partnerships with sports partners, Parsons stressed that “the massive appeal of sports means that exchanges have an extremely important way to make themselves known” and gain wide recognition in the traditional financial sector..
“The exchanges are basically saying that we are here and helping people embrace new technologies and opportunities,” he said.
Related: Cryptocurrency at the Olympics: NFT Skis, Bitcoin Bobsledders and the CBDC Controversy
Moving forward in 2022, Parsons stated that he expects the cryptocurrency sector to take market share away from banks and traditional finance:
“We have seen this process begin in 2021 and it will only expand and deepen this year as more product offerings come to the market that provide hyper-competitive alternatives to existing banking products.”
The CEO stated that cryptocurrency is no longer a niche topic in Australia and that it is becoming increasingly difficult to identify a target demographic as the market is rapidly accepting a wide variety of people across the country.
“We are also seeing a shift in demographic coverage, so you can no longer point to the ‘typical’ cryptocurrency holder in the country. We expect regulation to speed up this process, especially in terms of business adoption. But it really depends on the form the regulation takes,” he said.
Brisbane-based cryptocurrency exchange Swyftx has signed a major three-year sponsorship deal with the Australian National Rugby League (NRL).
Swyftx is registered in Australia and New Zealand and offers trading services for approximately 300 digital assets. The firm was founded in 2018, and the deal with NRL marks another milestone in promoting the local crypto and blockchain sector to sports enthusiasts: the Australian Football League women’s competition has already signed a contract with Crypto. Com for $25 million over five years.
The latest deal will cover NRL, Women’s NRL (NRLW), State of Origin and All-Star games. There is also the possibility of a fourth year extension until the end of 2026.
The Swyftx branding will be displayed on LED signage in stadiums and virtually on TV broadcasts, and its name will also be displayed on the NRL’s in-game review and decision board, which will be called “Swyftx Bunker” in 2023.
Swyftx CEO Ryan Parsons told Cointelegraph that Australia is “seeing a near-instantaneous adoption of cryptocurrency,” highlighting the importance of the deal:
“The partnerships we are currently seeing represent a sign of growing confidence in the future of cryptocurrencies and its potential for mainstream adoption. The real question now is not whether crypto will remain, but how quickly it will change the future of the global economy and traditional financial services.”
Asked why crypto exchanges such as Swyftx, Crypto.com and FTX are actively seeking partnerships with sports partners, Parsons stressed that “the massive appeal of sports means that exchanges have an extremely important way to make themselves known” and gain wide recognition in the traditional financial sector..
“The exchanges are basically saying that we are here and helping people embrace new technologies and opportunities,” he said.
Related: Cryptocurrency at the Olympics: NFT Skis, Bitcoin Bobsledders and the CBDC Controversy
Moving forward in 2022, Parsons stated that he expects the cryptocurrency sector to take market share away from banks and traditional finance:
“We have seen this process begin in 2021 and it will only expand and deepen this year as more product offerings come to the market that provide hyper-competitive alternatives to existing banking products.”
The CEO stated that cryptocurrency is no longer a niche topic in Australia and that it is becoming increasingly difficult to identify a target demographic as the market is rapidly accepting a wide variety of people across the country.
“We are also seeing a shift in demographic coverage, so you can no longer point to the ‘typical’ cryptocurrency holder in the country. We expect regulation to speed up this process, especially in terms of business adoption. But it really depends on the form the regulation takes,” he said.
