Aston Martin Makes F1 History: First Crypto-Paid Sponsorship

On Friday, Aston Martin made Formula One history by announcing a multi-year sponsorship deal with Coinbase, paid entirely in cryptocurrency. The exchange platform has been named the team's official crypto partner. The terms of the sponsorship were not disclosed, but Aston Martin specified that payments would be made in USDC, pegged 1:1 to the U.S. dollar. This move represents a significant milestone as Aston Martin declared, "This marks the first time any Formula One team has publicly announced the full payment of a partnership with a stablecoin like USDC." Notably, Formula One teams have been embracing cryptocurrency sponsorships, with crypto.com also being an official partner of the sport owned by Liberty Media.