BitPay will facilitate the use of cryptocurrencies by fans and the general public.
The professional basketball team is now indirectly backing the adoption of DOGE and XRP.
The London Lions, a professional basketball club in the United Kingdom, has taken a tentative step into the crypto realm by forming a partnership with BitPay to accept digital currencies for goods purchases.
In a first for the crypto and sports worlds, the alliance essentially means the professional basketball team is now indirectly backing the adoption of popular digital currencies such as Dogecoin (DOGE), and XRP.
Moreover, BitPay facilitates the use of cryptocurrencies by fans and the general public who want to purchase team jerseys and accessories. BitPay supports a wide variety of digital currencies. Including Dogecoin, XRP, Shiba Inu (SHIB), Bitcoin (BTC), and Ethereum (ETH), among others.
Bitpay-Bridging the Gap
As one of the most widely used crypto payment systems in the Web 3.0 era. BitPay is helping to bridge the gap between traditional businesses and the cryptocurrency ecosystem. Last year, it was reported that BitPay had assisted Spanish Airlines in starting to accept cryptocurrency payments for airline tickets.
Through strategic alliances, the payment processor has increased the number of businesses that are interested in cryptocurrencies. The London Lions basketball club’s collaboration with BitPay is well-known. Although it is not the first example of a sponsorship contract between a sports team and the cryptocurrency industry.
Mark Cuban, owner of the Dallas Mavericks and a vocal proponent of cryptocurrency, made history in 2021. When the franchise became the first NBA franchise to accept DOGE as payment for product sales. The London Lions’ decision to back Dogecoin, XRP, and other cryptocurrencies might serve as a model for future adoption by mainstream businesses.