Aston Martin Aramco Formula One Team has entered into a multi-year sponsorship agreement with cryptocurrency exchange Coinbase, marking the first time an F1 team has fully transacted a partnership in the stablecoin USDC. The deal underscores the increasing integration of digital assets in global sports sponsorships.
Coinbase, a platform founded in 2012, has played a significant role in making cryptocurrency accessible worldwide. With over 560 million users, the exchange aims to promote economic freedom through digital finance. The collaboration with Aston Martin Aramco serves to reinforce this mission while expanding Coinbase’s presence in motorsports.
USDC as a Medium of Payment
Coinbase Aston Martin Announcement
Aston Martin Aramco’s partnership with Coinbase is groundbreaking as it is entirely paid in USDC, a stablecoin pegged 1:1 to the U.S. dollar. This marks a first in Formula One, setting a precedent for digital finance adoption in elite sports.
“This partnership shows the trust and confidence we place in Coinbase’s expertise as a leader in digital finance,” said Jefferson Slack, Managing Director of Commercial at Aston Martin Aramco. “By transacting this deal fully in USDC, we’re signaling our commitment to innovation, building a sustainable, forward-thinking relationship with Coinbase.”
Gary Sun, Vice President of Marketing at Coinbase, emphasized the significance of the deal, calling it a major milestone for the company.
“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.”
Coinbase Branding and Onchain Fan Engagement
As part of the sponsorship agreement, Coinbase branding will be prominently featured on the AMR25 race car, including the halo and rear-wing end plates, throughout the Formula One season. Additionally, the drivers, Fernando Alonso and Lance Stroll, will sport the Coinbase logo on their racing suits.
Beyond traditional sponsorship, Aston Martin Aramco will explore integrating blockchain technology into fan engagement initiatives. While details remain undisclosed, the team has indicated interest in leveraging Coinbase’s expertise to create innovative digital experiences for supporters.
