F1 News: Coinbase signs deal with Aston Martin
The Aston Martin Aramco Formula One™ Team announced Coinbase, one of the world’s leading platforms for buying, selling, and managing cryptocurrency, as their Official Crypto Partner.
Founded in 2012, Coinbase plays a key role in making crypto more accessible and secure for users worldwide. Currently over 560 million people own cryptocurrency globally.
The multi-year partnership aims to amplify Coinbase’s mission of demonstrating crypto as a key to greater economic freedom globally. It will also communicate Coinbase’s aim to make it easy for anyone to engage with cryptocurrency today.
For example, with Aston Martin Aramco, the partnership will be paid entirely in USDC, a stable digital currency designed to be pegged 1:1 to the U.S. dollar. This marks the first time any Formula One team has publicly announced the full payment of a partnership with a stablecoin like USDC.
As part of the partnership, Aston Martin Aramco will explore bringing fan engagement opportunities onchain.
Coinbase branding will debut on the halo and rear-wing end plate of the AMR25 throughout the season, as well as on drivers Fernando Alonso and Lance Stroll’s racing suits.
Jefferson Slack, Managing Director of Commercial, Aston Martin Aramco Formula One™ Team, said: “This partnership shows the trust and confidence we place in Coinbase’s expertise as a leader in digital finance. By transacting this deal fully in USDC, we’re signalling our commitment to innovation, building a sustainable, forward-thinking relationship with Coinbase.”
Gary Sun, Vice President, Marketing, Coinbase said: “This is a huge milestone for Coinbase, marking the first time we’ve invested in a sports partnership entirely in cryptocurrency. It is also our debut in Formula One, and we are excited to embrace an industry that equally values pushing the boundaries with transformative ideas and technology. We look forward to building on this collaboration with Aston Martin Aramco as we strive for greater economic freedom globally.”
To learn more about USDC, visit Coinbase.com/USDC.