Coinbase Joins Formula One as Aston Martin’s Crypto Partner
Coinbase has secured a major sponsorship deal with Aston Martin’s Formula One team, becoming its official crypto partner. The agreement, paid entirely in USDC stablecoins, will see the Coinbase logo featured on Aston Martin’s AMR25 race car, set to be unveiled later this month. Additionally, drivers Fernando Alonso and Lance Stroll will display the branding on their racing suits throughout the season.
Coinbase Challenges Crypto.com’s F1 Dominance
With this move, Coinbase positions itself as a direct competitor to Crypto.com, which has been Formula One’s primary crypto partner since 2021. Crypto.com recently extended its F1 sponsorship deal until 2030, maintaining naming rights for the Formula 1 Crypto.com Miami Grand Prix. This competition between the two exchanges signals the increasing importance of sports sponsorship in the crypto industry.
On-Chain Engagement and Future Prospects
Aston Martin Aramco has hinted at future blockchain integrations within Formula One, with potential on-chain fan engagement initiatives powered by Base, Coinbase’s Ethereum Layer 2 network. The deal underscores Coinbase’s commitment to expanding crypto’s presence in sports and entertainment while marking one of the biggest moves by a crypto exchange into F1 sponsorship.
