Cryptocurrency exchange Kraken announced a high-profile partnership with the famous Spanish football club Atletico Madrid. This collaboration will begin with the 2024 season and mark Kraken’s first step into sports sponsorship. As part of the agreement, Kraken will become Atletico Madrid’s official crypto and Web3.0 partner and the Official Sleeve Partner for both the men’s and women’s football teams.
What Does the Partnership Bring?
The partnership aims to create new opportunities for the extensive fan bases of both Kraken and Atletico Madrid, bringing cryptocurrency adoption closer to the sports industry. By prominently displaying the Kraken logo on the team’s jerseys, the exchange hopes to attract a broader audience, promote innovation in the cryptocurrency space, and establish a deeper connection with fans through shared interests in sports and technology.
This initiative aligns with similar moves in the crypto world, such as BingX’s recent partnership with Chelsea. It also indicates a growing trend of cryptocurrency companies collaborating with major sports organizations.
Preparing for the Future
Kraken’s entry into sports sponsorship should not be viewed solely as a matter of brand visibility. It reflects a broader strategy to prepare for future growth and expansion. The company is gearing up for a significant funding round, a crucial step toward an anticipated Initial Public Offering (IPO).
This preparation underscores Kraken’s commitment to scaling its operations and solidifying its position in the competitive cryptocurrency market. The partnership with Atletico Madrid is expected to play a significant role in this growth strategy, providing Kraken with a platform to engage with a diverse and global audience.
Moreover, Kraken’s collaboration with Atletico Madrid comes at a time when the exchange is making headlines for other significant developments. CEO Jesse Powell had donated $1 million in Ethereum to support Donald Trump‘s 2024 election campaign. Kraken is exploring new avenues for innovation in the cryptocurrency space alongside its activities in sports and politics. The partnership with Atletico Madrid is expected to catalyze further developments, leading to the launch of unique fan experiences and crypto-related products specifically designed for the sports community.
