Portugal's most popular football club has become the first of its kind to accept cryptocurrency payments after announcing its partnership with the UTRUST payment platform.
S.L. Benfica is the first major football club in Europe to allow the purchase of its merchandise in cryptocurrency.
According to Benfica, the decision to accept cryptocurrency payments is based on a need to upgrade its e-commerce strategy and expand its global audience.
Currently, the Portuguese team has a fan base of 14 million and stands as the most decorated club in Portugal.
The fan base is key in the decision to adopt a new payment method, said S.L. Benfica CEO, Domingos Soares de Oliveira.
As stated by the club, the addition of cryptocurrency would also get rid of common issues with credit card payments, like chargebacks and fraudulent payments.
"We look forward to accepting our first cryptocurrency payment," the club's CEO said.
"This partnership with Portugal's number one football club marks a major milestone for UTRUST and the blockchain ecosystem as a whole," Correia said.
The football pitch has been one of the most welcoming groups to cryptocurrency and blockchain technology.
The popular Portuguese football club only one of the many European clubs that are betting on financial alternatives to reach new audiences.
S.L. Benfica Is The First Major European Football Club To Accept Cryptocurrency
Publié le Jun 6, 2019
by Coindesk | Publié le Coinage
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