Rising Crypto Sports Sponsorships: Are FX Brands Still in the Game？

FX companies dominated the global sports sponsorship sector during the last decade.

Sports sponsorship has always been one of the most important tools for international financial services providers to increase their reach. Branding and marketing partnerships with sporting clubs and athletes allow financial brands to attract customers from different regions.

There has been a major shift in the international sports sponsorship ecosystem. The sector, which was once dominated by leading foreign exchange brokers like FXPro, Aplari, Instaforex, and Swissquote, saw the emergence of crypto brands in the past two years.

Since the start of 2020, crypto companies poured billions of dollars in sports sponsorships and formed partnerships with some of the worlds most followed athletes. During the halftime of the recent Super Bowl, the annual playoff championship game of the National Football League in the US, leading crypto brands, including Coinbase, Crypto.com, FTX, and eToro ran their advertisements. Coinbase alone witnessed more than 20 million hits on its website within a minute after the ad.

With the rising popularity of crypto companies and their massive marketing budgets, several questions have emerged regarding the future of FX brands in the global sports sponsorship sector. But is it all over for the FX firms？ Are they still in the game？

There is no doubt about the fact that the dominance of FX companies has been challenged by the crypto firms in the past few years, but brokers like InstaForex, IC Markets, Vantage, City Index, TMGM, and Robomarkets recently established and in some cases extended their partnerships with prominent names in the sports sponsorship sector.