Juventus has confirmed that Tether, a global digital asset company, has purchased a minority stake in the club.
This became one of the first investments of its kind within not just Italian football, but European football as a whole. Tether, the issuer of the world’s most popular stablecoin; USDT, revealed it will look to “revolutionise” the global sports landscape by integrating its blockchain technology into Juventus’ club infrastructure.
Speaking on his company’s acquisition, Paolo Ardoino, CEO of Tether, stated: “Aligned with our strategic investment in Juve, Tether will be a pioneer in merging new technologies, such as digital assets, AI, and biotech, with the well-established sports industry to drive change globally.
“We will explore avenues for innovative collaborations and the potential to revolutionise the global sports landscape.”
Cryptocurrency and digital asset deals in Serie A are not uncommon, with many clubs taking part in a burgeoning sector rebounding in confidence following several high-profile collapses in 2022.
Current league champions Inter Milan have a shirt sleeve sponsorship with crypto company Gate.io, as well as a blockchain partnership with BlockDAG. Udinese went for a more unorthodox approach, signing a sponsorship deal with a memecoin; APU Apustaja.
BlockDAG – who also has a blockchain partnership with Borussia Dortmund – explained to Insider Sport in September last year on what they want to see more in terms of crypto and blockchain’s presence in football and wider sports.
For Tether with its Juventus minority ownership, the digital asset company stated they are “uniquely positioned to integrate its futuristic portfolio into the realms of the sports industry”, with the likelihood of stablecoin payments becoming a realisation across the Allianz Stadium in Turin.
