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Formula 1: Coinbase joins Aston Martin and pays in cryptocurrencies
By Daniele Corno
Coinbase on the cars of Fernando Alonso and Lance Stroll: A new partnership in Formula 1 with Aston Martin paid in cryptocurrencies
Crypto e Formula 1 di nuovo insieme
Aston Martin Aramco, one of the leading Formula 1 teams, announces a strategic partnership with the cryptocurrency exchange Coinbase.
Coinbase, listed on the Nasdaq with the ticker symbol “COIN”, is the US market leader in a sector that, according to estimates, has over 560 million users.
The collaboration was born with the aim of amplifying the vision of the transition that is taking place in the global economic-financial system. In support of this thesis, the partnership between Aston Martin Aramco and Coinbase is entirely financed through a payment in cryptocurrencies.
Specifically, 100% of the payment will be made in the stablecoin USDC, a cryptocurrency designed to maintain a stable 1:1 ratio with the US dollar. This is the first time in the history of Formula 1 that a team has publicly announced a full payment in cryptocurrency, marking a historic turning point.
It will be a season to remember
“This will be a season to remember. See you at the track.” shows in the official announcement the post on X by Coinbase.
This will be a season to remember.
See you at the track @AstonMartinF1. pic.twitter.com/0egkFZ0WxE
— Coinbase 🛡️ (@coinbase) February 14, 2025
After the recent change of sponsor by Red Bull, which switched from the exchange Bybit to the new sponsor Gate.io, the new collaboration between Aston Martin Aramco and Coinbase marks an important new entry in the top single-seater car competition.
The Coinbase brand will debut on the Halo and rear wing of cars number 14 and 18, respectively driven by Fernando Alonso and Lance Stroll.
An important moment for Coinbase, as Gary Sun said:
“This is a milestone for Coinbase, marking the first time we have invested in a sports partnership entirely in cryptocurrency. It is also our debut in Formula 1 and we are excited to embrace an industry that equally values pushing boundaries with innovative ideas and technologies. We look forward to building on this collaboration with Aston Martin Aramco as we strive for greater economic freedom globally.”
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