Cryptocurrencies completed another significant step in the journey to becoming a universally accepted means of exchange.
On Thursday, Verdict reported that Portuguese football club, SL Benfica it will now allow fans to use cryptocurrencies as a method of payment for match tickets and other merchandise available on their online store.
The move is made possible by a partnership between the club and cryptocurrency startup Utrust who will be in charge of collecting the crypto payments and converting it to cash. Such a method means SL Benfica will not have to worry about the volatility in the price of cryptocurrencies at the time when the payment is made.
For a start, the announcement revealed that SL Benfica would accept Bitcoin and Ethereum as well as Utrust’s native token (UTK).
Speaking in the announcement, SL Benfica CEO Domingos Soares de Oliveira, suggested that the growth in the number of Benfica fans embracing digital technology meant the adoption of a crypto payment method allows the club to stay ahead of the curve.
Domingos is quoted in the report as saying,
“We recognize that many of our supporters are now digital users first, so we want to be ahead of the curve when it comes to adopting novel technologies and giving our supporters the best online experience.”
Benfica’s decision to allow its over seven million fans globally to pay in cryptocurrency no doubt enables the club to enjoy the power of blockchain technology to provide secure transactions.
However, only the coming months will reveal whether other football clubs around the world will eventually open a similar opportunity to their fans as the world keeps migrating to digital.
In a similar report regarding mainstream adoption of cryptocurrencies, we reported that leading U.S telecommunication company, AT&T now allows users to pay for subscriptions using globally accepted cryptocurrency, Bitcoin.