Philippine crypto wallet service provider Coins.ph announced that the company has partnered with the Philippine Basketball Association (PBA), another digital currency company making a sports The company is making inroads into the sporting world. The agreement is the PBA’s first crypto partnership during its 47th season, and the Coins.ph brand will be featured in the premier tournament during the Philippine Cup.
Philippine Basketball Association partners with crypto company Coins.ph
In the past year, well-known digital currency companies such as FTX, Crypto.com, Grayscale Investments, and Blockchain.com have integrated their companies into the sports world through various partnerships and attempts. on June 3, regulated fiat and crypto service providerannounced that Coins.phhas partnered with the Philippine Basketball Association (PBA).
The PBA was started in 1975 and is the second oldest professional basketball league in the world after the National Basketball Association (NBA). The league consists of 12 franchise teams, and the most prestigious tournament of the PBA season is the Philippine Cup.PBA teams include the Barangay Zimbra San Miguel, the Meralco Bolts, the Converge Fibbershirts, the Magnolia Hotshots, the Blackwater Bossing, Phoenix Super LPG Fuel Masters, Terrafirma Dipe, TNT Tropangiga, Rain or Shine Elasto Painters, San Miguel Beemen, NLEX Road Warriors, and Northport Batang Pier. There are.
The upcoming 2022 Philippine Cup will be the first time since 2019 that fans will experience a full arena at 100% capacity, Coins.ph detailed in its announcement that the company’s “brand presence will be featured (through the Philippine Cup).”
Coins.ph plans to engage with fans by providing an “interactive experience” and promoting cryptocurrency awareness; PBA fans will be able to earn cryptocurrency, and Coins.ph will be highlighted in TV ads during the 2022 PBA season.
“Basketball plays a very important role in Philippine culture, which is a perfect match for Coins.ph, a proud homegrown fintech brand in the Philippines.” Coins.ph CEO Wei Zhou explained in a statement sent to Bitcoin.com News, Zhou added that in recent times, the company has seen a growing interest in web3 and digital currencies, and the prominence of PBA can help strengthen crypto awareness. Zhou added:
With the surge of involvement in Web3 in the Philippines, we believe more and more Filipinos are joining the crypto community. the PBA is a great platform to educate Filipinos about the crypto economy and we value this opportunity to expand the penetration of the crypto market We cherish it.
PBA Commissioner, Coins.ph Says PBA “Gives Fans a Chance to Participate in a New Way”
Founded in 2014, Coins.ph has raised approximately$40 million in capital In addition to partnering with PBA, Coins.ph and Xendit executiveslaunched a non-fossil token (NFT) platform with $2 million in seed fundinglaunched the platform
Coins.ph was once owned by Indonesian tech firm Gojek, which acquired the startup for $95 million, according to areportpublished byKa Kay Lum. According to areportpublished by Ka Kay Lum, deputy editor and business journalist for the SEA edition of The-ken.com, several regional investors associated with Gojek and Coins.ph have been informed that Binance’s former CFO, Wei Zhou purchased the company, Ka Kay Lum confirmed, detailing that Coins.ph was sold for “double” what Gojek paid for the startup in 2019.
During the past year, well-known athletes and the sports industry have been leveraged by crypto companies to garner more exposure. For example, FTX acquired the name of the Miami Heat arena, Crypto.com acquired the name of the Los Angeles Lakers arena, and famous sports stars like LeBron James, Tom Brady, Francis Ngannou, and Kevin Durant crypto firms have become partners in the PBA and Coins.ph deal, PBA league commissioner Willie O. Marcial believes the partnership with Coins.ph will enhance the PBA’s growth.
“The PBA is the first professional basketball league in Asia and is already an institution in this country,” Marcial said during the partnership announcement.
“The PBA is the first professional basketball league in Asia and it is already a well-known league in the country. It is still unmatched in terms of professional sports entertainment. And by partnering with Coins.ph, the PBA will take another step forward and will undoubtedly continue to improve and strengthen its position as one of the best leagues in the region. Furthermore, the PBA is all about growth and improvement, and having Coins.ph gives fans the opportunity to get involved in new ways and learn about the crypto community at the same time.”
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