San Francisco-based Coinbase has announced a partnership with UK-based Formula One team Aston Martin Aramco, making Coinbase the team's official partner. As part of the deal, Coinbase's branding will appear on Aston Martin's car and racing suits. The partnership is notable because the undisclosed amount of the deal is being paid in USDC, a stablecoin. According to Coinbase, Aston Martin chose to be paid entirely in USDC because of its benefits, including lower transaction costs. This partnership also includes Aston Martin onboarding as a prime institutional customer of Coinbase. This collaboration highlights the increasing presence of crypto in the Formula One world, with other teams and companies entering branding and partnership deals involving cryptocurrencies. Coinbase's partnership with Aston Martin marks its first step towards establishing more global, international partnerships in the sports world.



Other News from Today