Major Breakthrough For Crypto Industry As Famous Football Club Starts Accepting Crypto Payments

Famous Portuguese football club Benfica announced on Thursday that it will now be accepting crypto payments for all its sales. The club will accept Bitcoin, Ethereum, and UTK Coin for the sale of match tickets and club merchandise.

Crypto industry is expanding at a healthy pace, taking various sectors under its wings, right from cloud computing to money transfers. The latest foray in the sports space will make them even more popular and acceptable at the grassroots level. Given the size of the global commercial football industry, Benfica’s move to accept crypto tokens could prove to be a major breakthrough.

Benfica CEO, Domingos Soares de Oliveira stated that the move to accept cryptocurrencies as a valid payment option is aimed at being upbeat with the emerging trends in the world. Oliveira emphasized that the club needs to stay ahead to be relevant in the competition. He further said,

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 accepting novel technologies.

Credit for the football club accepting digital currencies as a valid payment option also goes to UTRUST, a crypto payments and transfers company. It has been continuously supporting crypto activities in the European country and managed to encourage Benfica for the move. UTRUST uses UTK Coin, its native cryptocurrency, for all transactions on the platform.

Prior to Benfica’s move, the football industry had shown a few signs of being a fruitful ground for digital currencies. Paris Saint-Germain, Juventus, and West Ham United are just a few names of the major club which are expected to launch their fan tokens. Apart from this, fans were given an opportunity during last year’s FIFA World Cup in Russia, to buy tickets using Bitcoins.