Crypto Exchange Binance Signs Sponsorship Deal With Argentine Football Association

• Cryptocurrency exchange Binance has signed a partnership deal with the Argentinian Football Association (AFA)

• The deal will make the leading exchange the main sponsor of all Argentine national football teams for the next five years

• The collaboration will also result in a new fan token being issued, after the release of another fan token in collaboration with Socios

Binance, one of the world’s most established cryptocurrency exchanges has signed a sponsorship deal with the Argentinian Football Association (AFA), allowing the company to become the main sponsor of all Argentine football teams across age grades, and genders.

This deal marks the first one that the exchange has signed with a national team and it is set to extend into the next five years.
The deal will allow the football team to promote the brand by introducing cryptocurrencies to fans and users who are yet to become familiar with the digital assets.

A statement that was released by Maximiliano Hinz, the Director of Binance Latam reads:

“Through this agreement, we hope to support Argentine soccer at all levels and introduce Binance, the crypto world, and the blockchain to soccer fans across the country and world.”

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The signed partnership also includes an agreement to create a new fan token which will be released in the future. This comes only 9 months after the AFA issued another fan token in collaboration with Socios.com.

The news has resulted in criticism from Socios, which has promised to take legal actions against the AFA unless it fulfills its commitment. According to reports, the partnership with Socios on the fan token was set to last another 3 years.

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