Binance Lands Sponsorship Deal with Brazil’s Soccer League Paulistão Sicredi
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On January 17, Binance, the world’s largest
cryptocurrency exchange
Cryptocurrency Exchange
A cryptocurrency exchange is an online platform that supports the exchange of various currencies for a cryptocurrency or digital asset.Comparable to a generalized financial exchange, a crypto exchange’s core function is to permit and encourage the buying and selling of cryptos.This is accomplished by producing a stable trading environment suitable for traders nested through different locations around the world. Sometimes a crypto exchange may be referred to as a digital currency exchange (DCE) for short.How Does Trading Take Place on a Crypto Exchange?Cryptocurrency trading occurs over a centralized exchange, although these crypto exchanges should be used with caution given the implications that surround the custody of new assets. Similar to the banking industry, when a crypto exchange holds cryptocurrencies of users they accrue interest and are no longer classified as client money.These provide an accessible platform for not only companies, hedge funds, and retail traders for exchanging digital currencies.Additionally, crypto exchanges serve a critical role in producing stability within the cryptocurrency sector given how the sourcing and pricing of these assets are innately volatile. One could think of a crypto exchange as an intermediary who provides a service by connecting buyers and sellers from various markets under one roof. In exchange for facilitating trades and for services rendered, a digital currency exchange generally collects a fee of an outgoing transaction that averages between 0.20% to 0.25% or will request a deposit fee that has been known to be as high as 11% for credit card deposits. Crypto exchanges may also support the exchange of crypto tokens, such as the Binance Token, which is ranked as the 9th most valuable cryptocurrency in the world.
A cryptocurrency exchange is an online platform that supports the exchange of various currencies for a cryptocurrency or digital asset.Comparable to a generalized financial exchange, a crypto exchange’s core function is to permit and encourage the buying and selling of cryptos.This is accomplished by producing a stable trading environment suitable for traders nested through different locations around the world. Sometimes a crypto exchange may be referred to as a digital currency exchange (DCE) for short.How Does Trading Take Place on a Crypto Exchange?Cryptocurrency trading occurs over a centralized exchange, although these crypto exchanges should be used with caution given the implications that surround the custody of new assets. Similar to the banking industry, when a crypto exchange holds cryptocurrencies of users they accrue interest and are no longer classified as client money.These provide an accessible platform for not only companies, hedge funds, and retail traders for exchanging digital currencies.Additionally, crypto exchanges serve a critical role in producing stability within the cryptocurrency sector given how the sourcing and pricing of these assets are innately volatile. One could think of a crypto exchange as an intermediary who provides a service by connecting buyers and sellers from various markets under one roof. In exchange for facilitating trades and for services rendered, a digital currency exchange generally collects a fee of an outgoing transaction that averages between 0.20% to 0.25% or will request a deposit fee that has been known to be as high as 11% for credit card deposits. Crypto exchanges may also support the exchange of crypto tokens, such as the Binance Token, which is ranked as the 9th most valuable cryptocurrency in the world.
Read this Term, announced that it is the new sponsor of the Sao Paulo women’s soccer league, Paulistão Sicredi 2022. The exchange stated that its sponsorship provides for the launch of exclusive products such as the development of a platform for NFTs and LiveNFTs, among other initiatives. Such partnership is set to make the 2022 soccer league edition of Brazil’s Campeonato Paulista Sicredi Serie A1 become the most innovative ever held. The move increases Binance’s active collaborations with streamlining, arena advertising and social media partners in sports competitions. Such partnership has become successful as recently the São Paulo Football Federation (FPF) aims to provide the best experiences for fans and sponsors.
Guilherme Lenz Cesar, Partner at LiveMode, a partner company of the São Paulo Football Federation, talked about the development and said: “We are ready to promote many innovations and create unprecedented offers for brands and fans of the largest state in the country. Paulistão 2022 will give Binance national visibility and the chance to offer unprecedented products to fans.”
Reinaldo Carneiro Bastos, president of the FPF, also commented about the development and stated: “We are delighted to announce Binance, another global giant, as a partner of Paulistão Sicredi 2022. The crypto market has been growing a lot in Brazil. And the most innovative competition in the country now brings the largest brokerage in the world.”
Meanwhile, Binance CEO and founder Changpeng Zhao, described sponsoring a competition as important to the Brazilian sports calendar as Paulistão Sicredi 2022 marks Binance’s immersion in Latin American football culture: “We strongly believe in the potential of sport as an important means to spread the innovation brought by blockchain technology and cryptocurrencies, contributing to mass adoption. We look forward to bringing these two universes together, in a partnership that is sure to be very successful,” he elaborated.
Crypto Platforms Position Themselves to Capture Market Share
The development by Binance comes at a time when a rising number of crypto firms are becoming some of the biggest advertisers and sponsors in sports. The move has been spurred by the need to reach a new audience and push further into the mainstream. In November last year, Crypto.com, a payment and cryptocurrency platform, bought naming rights to iconic Staple Centers for $700 million. In October last year, The National Basketball Association (NBA) landed its first crypto sponsorship with Coinbase crypto exchange. In May last year, even-time Super Bowl champion Tom Brady stated that he is a big believer in cryptocurrencies, after he bought crypto coins. Fintech companies want to increase revenue around blockchain to grow the crypto economy. At the same time, sports leagues have rapidly embraced cryptocurrency as they look to get revenue to address pandemic-driven losses. As a result, they have created a sponsorship category that rarely existed less than a year ago.
On January 17, Binance, the world’s largest
cryptocurrency exchange
Cryptocurrency Exchange
A cryptocurrency exchange is an online platform that supports the exchange of various currencies for a cryptocurrency or digital asset.Comparable to a generalized financial exchange, a crypto exchange’s core function is to permit and encourage the buying and selling of cryptos.This is accomplished by producing a stable trading environment suitable for traders nested through different locations around the world. Sometimes a crypto exchange may be referred to as a digital currency exchange (DCE) for short.How Does Trading Take Place on a Crypto Exchange?Cryptocurrency trading occurs over a centralized exchange, although these crypto exchanges should be used with caution given the implications that surround the custody of new assets. Similar to the banking industry, when a crypto exchange holds cryptocurrencies of users they accrue interest and are no longer classified as client money.These provide an accessible platform for not only companies, hedge funds, and retail traders for exchanging digital currencies.Additionally, crypto exchanges serve a critical role in producing stability within the cryptocurrency sector given how the sourcing and pricing of these assets are innately volatile. One could think of a crypto exchange as an intermediary who provides a service by connecting buyers and sellers from various markets under one roof. In exchange for facilitating trades and for services rendered, a digital currency exchange generally collects a fee of an outgoing transaction that averages between 0.20% to 0.25% or will request a deposit fee that has been known to be as high as 11% for credit card deposits. Crypto exchanges may also support the exchange of crypto tokens, such as the Binance Token, which is ranked as the 9th most valuable cryptocurrency in the world.
A cryptocurrency exchange is an online platform that supports the exchange of various currencies for a cryptocurrency or digital asset.Comparable to a generalized financial exchange, a crypto exchange’s core function is to permit and encourage the buying and selling of cryptos.This is accomplished by producing a stable trading environment suitable for traders nested through different locations around the world. Sometimes a crypto exchange may be referred to as a digital currency exchange (DCE) for short.How Does Trading Take Place on a Crypto Exchange?Cryptocurrency trading occurs over a centralized exchange, although these crypto exchanges should be used with caution given the implications that surround the custody of new assets. Similar to the banking industry, when a crypto exchange holds cryptocurrencies of users they accrue interest and are no longer classified as client money.These provide an accessible platform for not only companies, hedge funds, and retail traders for exchanging digital currencies.Additionally, crypto exchanges serve a critical role in producing stability within the cryptocurrency sector given how the sourcing and pricing of these assets are innately volatile. One could think of a crypto exchange as an intermediary who provides a service by connecting buyers and sellers from various markets under one roof. In exchange for facilitating trades and for services rendered, a digital currency exchange generally collects a fee of an outgoing transaction that averages between 0.20% to 0.25% or will request a deposit fee that has been known to be as high as 11% for credit card deposits. Crypto exchanges may also support the exchange of crypto tokens, such as the Binance Token, which is ranked as the 9th most valuable cryptocurrency in the world.
Read this Term, announced that it is the new sponsor of the Sao Paulo women’s soccer league, Paulistão Sicredi 2022. The exchange stated that its sponsorship provides for the launch of exclusive products such as the development of a platform for NFTs and LiveNFTs, among other initiatives. Such partnership is set to make the 2022 soccer league edition of Brazil’s Campeonato Paulista Sicredi Serie A1 become the most innovative ever held. The move increases Binance’s active collaborations with streamlining, arena advertising and social media partners in sports competitions. Such partnership has become successful as recently the São Paulo Football Federation (FPF) aims to provide the best experiences for fans and sponsors.
Guilherme Lenz Cesar, Partner at LiveMode, a partner company of the São Paulo Football Federation, talked about the development and said: “We are ready to promote many innovations and create unprecedented offers for brands and fans of the largest state in the country. Paulistão 2022 will give Binance national visibility and the chance to offer unprecedented products to fans.”
Reinaldo Carneiro Bastos, president of the FPF, also commented about the development and stated: “We are delighted to announce Binance, another global giant, as a partner of Paulistão Sicredi 2022. The crypto market has been growing a lot in Brazil. And the most innovative competition in the country now brings the largest brokerage in the world.”
Meanwhile, Binance CEO and founder Changpeng Zhao, described sponsoring a competition as important to the Brazilian sports calendar as Paulistão Sicredi 2022 marks Binance’s immersion in Latin American football culture: “We strongly believe in the potential of sport as an important means to spread the innovation brought by blockchain technology and cryptocurrencies, contributing to mass adoption. We look forward to bringing these two universes together, in a partnership that is sure to be very successful,” he elaborated.
Crypto Platforms Position Themselves to Capture Market Share
The development by Binance comes at a time when a rising number of crypto firms are becoming some of the biggest advertisers and sponsors in sports. The move has been spurred by the need to reach a new audience and push further into the mainstream. In November last year, Crypto.com, a payment and cryptocurrency platform, bought naming rights to iconic Staple Centers for $700 million. In October last year, The National Basketball Association (NBA) landed its first crypto sponsorship with Coinbase crypto exchange. In May last year, even-time Super Bowl champion Tom Brady stated that he is a big believer in cryptocurrencies, after he bought crypto coins. Fintech companies want to increase revenue around blockchain to grow the crypto economy. At the same time, sports leagues have rapidly embraced cryptocurrency as they look to get revenue to address pandemic-driven losses. As a result, they have created a sponsorship category that rarely existed less than a year ago.
Cryptocurrency