Key Insights
- Kraken becomes Official Crypto and Web3 Partner of Atlético de Madrid, including sleeve sponsorship from 2024 season.
- Partnership aims to combine sports and web3 technology, enhancing fan engagement and crypto opportunities.
- Kraken plans expansion into Germany around July 10, 2024, partnering with DLT Finance for compliant crypto services.
MADRID/BERLIN (MarketsXplora) – Cryptocurrency exchange Kraken has announced a multi-faceted partnership with Spanish football club Atlético de Madrid, while simultaneously revealing plans to expand its services in Germany, marking significant strides in its European market strategy.
The deal with Atlético de Madrid positions Kraken as the club’s Official Crypto and Web3 Partner, with the exchange set to feature as the Official Sleeve Partner on all men’s and women’s team shirts starting from the 2024 season.
We are excited to announce our partnership with @Atleti!
Together, we are advancing crypto adoption both on and off the pitch. Starting from the 2024/25 season, our logo will proudly appear on the sleeves of Atletico Madrid's playing kits. ❤️ 🤍 pic.twitter.com/IJKiLhf5dl
— Kraken Exchange (@krakenfx) July 10, 2024
Mayur Gupta, Kraken’s Chief Marketing Officer, emphasized the alignment between the two entities, stating,
“Kraken and Atlético de Madrid believe crypto and football both have the potential to transform lives.”
The partnership aims to merge sports and web3 technology, creating enhanced opportunities for Spanish football fans and Kraken’s crypto clientele. The exchange plans to leverage this collaboration to foster global innovation and boost fan engagement in the rapidly evolving digital asset space.
Kraken Expands European Footprint with German Market Entry
In a parallel move, Kraken has unveiled plans to expand its footprint in Germany, a key European market for cryptocurrency adoption. The expansion, slated to begin around July 10, 2024, will see Kraken offer an extensive range of crypto products to German clients.
To facilitate this growth, Kraken has partnered with DLT Finance, a subsidiary of DLT Securities GmbH and DLT Custody GmbH. Both parent companies are licensed by BaFin, Germany’s financial regulatory authority, ensuring compliance with local regulations.
DLT Finance, specializing in digital asset prime brokerage and crypto custody services, will provide the necessary infrastructure and expertise to enable secure and compliant transactions for Kraken’s German user base.