Binance to Sponsor Lazio Soccer Jersey in $35 Million Deal

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  • Binance has announced that it will sponsor the team jerseys for the Italian soccer team Lazio
  • The deal is thought to have cost around $35 million and will see the Lazio token added to Binance
  • Binance has already been in the news this week after announcing a $ 1 billion Binance Smart Chain fund and cutting yuan pairs from its platform

Binance has announced that it will be the main sponsor of the Italian soccer team Lazio in a deal worth almost $35 million. The cryptocurrency exchange will have its name featured on the front of the team’s jerseys and will also list the Lazio fan token via the Binance launchpad. The news marks the continuation of a busy week for Binance, which has also taken further steps to distance itself from China and also launched a $1 billion growth fund in support of its Binance Smart Chain blockchain.

Binance Secures the Italian Job

Binance announced the Lazio shirt sponsorship yesterday, with Reuters reporting that the deal was worth €30 million ($34.7 million). This follows a growing tradition of soccer sponsorship by cryptocurrency entities, which has particularly taken off in the UK. The LAZIO token will also list on Binance through the Binance Launchpad, which will see the club join other soccer tokens Paris St Germain (PSG) and Juventus (JUV).

Shirt Deal Caps Busy Week

The Lazio sponsorship caps a busy week for Binance, which has already been in the news this week on more than one occasion. The exchange made headlines on Tuesday when it announced that it was funnelling $1 billion in to its Binance Smart Chain platform in an effort to increase development and adoption, while yesterday the exchange said that it was cutting its yuan trading pairs in an effort to further comply with China’s crackdown on cryptocurrency trading.