Gibraltar United Football Team to Pay Players With Cryptocurrency Next Season
Gibraltar United, a Premium Division football team, plans to pay its players in cryptocurrency from next football season. Gibraltar United will make history as the first football club in the world to start paying its players using cryptocurrencies.
Founded in 1943 in the midst of World War Two, Gibraltar United plays in the Gibraltar Football League’s Premier Division, which was certified by the Union of European Football Associations (UEFA) in 2013.
Gibraltar as a nation is hoping to bring legitimacy to crypto trading; Pablo Dana, the club’s owner said Gibraltar United wants to bring more transparency to football, believing that the technology will reduce the corruption that has befallen the sports industry.
Pablo Dana is a Dubai-based Italian national. He is an investor in a company called Quantocoin, which aims to launch a blockchain-based mobile banking application later this year.
The rest of the football world is clearly taking notice, with smaller clubs leading the way in embracing cryptocurrency and blockchain technology. In January, English football club Arsenal signed a sponsorship with crypto gambling platform CashBet Coin, becoming the first major football club to do so.
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