PSV Eindhoven, a leading football club headquartered in the Netherlands, has teamed up with local crypto trading site Anycoin Direct, which will pay the club an unannounced sum of Bitcoin as part of a new sponsorship contract. PSV will become the first major European football team to have its full sponsorship paid in Bitcoin.

Anycoin Direct will remain an official partner of PSV Eindhoven for the next two seasons, with the objective of increasing crypto consciousness across Europe, according to the official announcement.

Even though numerous international firms were competing for the partnership, PSV chose a reliable partner from the Eindhoven region. PSV has found a dependable and local origin in Anycoin Direct. Lennert Vlemmings, COO at Anycoin said,

Growing up in the region PSV has always been very close to me. As a technology company from the Brainport area, we are very excited to be working with PSV. The payment in Bitcoin marks the next step for the adoption of cryptocurrency in the EU.

PSV Eindhoven’s commercial director Frans Janssen is said to have established Bitcoin wallets for collecting sponsorships as soon as the agreement was finalized. He expressed his support for the initiative by stating,

The possibilities and the future that the world of cryptocurrency offers are very promising. As a club in the heart of the Brainport region, we are always innovating, cryptocurrency fits well into this picture

PSV tested nonfungible tokens earlier this year by auctioning a digital replica of the 1988 European Cup Final, which it had won against Benfica. To emphasize the significance of the victory for the club, the NFT was accompanied by an official certificate signed by the championship goalie.

Football teams are betting on fan tokens, although crypto has a wide range of applications. Arsenal and Manchester City are two of the most recent federations to participate in this initiative, both in collaboration with the fan interaction platform Socios.

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