As the English Premier League (EPL) season kicks off, the
US-based digital trading platform Uphold has entered into a sleeve sponsorship
deal with Burnley FC. Uphold’s logo will appear on the left sleeves of
Burnley’s shirts for the 2023-24 season, according
to a statement published on the club’s website.
This move reportedly positions the digital
trading platform to gain substantial brand exposure through LED advertising
boards surrounding Turf Moor, the club’s football stadium, as well as across
Burnley’s social channels and media backdrops. The UK-based football club has more than 800,000 followers on X (formerly Twitter).
𝐂𝐇𝐀𝐌𝐏𝐈𝐎𝐍𝐒 🏆🥇 pic.twitter.com/cFFgdWWqlC
— Burnley FC (@BurnleyOfficial) April 25, 2023
Based in New York,
Uphold is a Web 3 trading platform serving over 10 million customers across 180
countries. The company offers cryptocurrency trading and digital assets debit
cards.
Burnley FC’s partnership
with Uphold is expected to secure financial stability for the club. Notably,
Chelsea FC is the only club among the 20 Premier League teams that has not
embraced sleeve sponsorship. The club ended its sponsorship partnership with CMW FX after the latter was raided by law enforcement agencies for suspected fraud.
Although the financial
terms of the Burnely and Uphold partnership remain undisclosed, the entities
expect the collaboration to go beyond mere logo placements, offering mutual
benefits through increased brand visibility.
In the previous season,
Burnley FC did not feature a sleeve sponsor, reportedly due to the nature of
the inventory sales for second-tier Championship Clubs. However, this season,
Burnley has signed two major sponsorships. Alongside Uphold, the club has also
partnered with the Asian sports betting and casino operator W88 as the
front-of-shirt sponsor.
In June, Uphold announced its decision to terminate operations
in Venezuela. This move is attributed to the challenges posed by adhering to US
sanctions. According to the company, these challenges made the continuation of
business in the country untenable.
Navigating Sanctions
Complexity
Following its exit from
Venezuela, London-based Uphold released a statement urging its Venezuelan
customers to withdraw their funds from the platform. The company indicated that
the trading service will remain operational until July 31, after which accounts
will be subject to full restrictions starting September 30.
Uphold underwent a
leadership transition earlier this year, with Simon McLoughlin taking over as
CEO, succeeding JP Thieriot, who held the position since the company’s
inception in 2013. Previously, McLoughlin was the President and COO.
In the midst of the
prolonged legal dispute between Ripple and the
SEC, Uphold disclosed in
April that it never delisted XRP, highlighting its substantial holdings of the
token, totaling $1.04 billion. Besides that, Uphold released its proof of
reserves report, revealing that it held fiat and digital assets in a slightly
over-collateralized ratio.
Last year, Uphold introduced
zero-fee Bitcoin trading for
transactions using national currencies such as the US dollar and the euro. In a
statement, the company stated that this initiative provides its customers with
competitive pricing through its connectivity to 28 underlying exchanges.
As the English Premier League (EPL) season kicks off, the
US-based digital trading platform Uphold has entered into a sleeve sponsorship
deal with Burnley FC. Uphold’s logo will appear on the left sleeves of
Burnley’s shirts for the 2023-24 season, according
to a statement published on the club’s website.
This move reportedly positions the digital
trading platform to gain substantial brand exposure through LED advertising
boards surrounding Turf Moor, the club’s football stadium, as well as across
Burnley’s social channels and media backdrops. The UK-based football club has more than 800,000 followers on X (formerly Twitter).
𝐂𝐇𝐀𝐌𝐏𝐈𝐎𝐍𝐒 🏆🥇 pic.twitter.com/cFFgdWWqlC
— Burnley FC (@BurnleyOfficial) April 25, 2023
Based in New York,
Uphold is a Web 3 trading platform serving over 10 million customers across 180
countries. The company offers cryptocurrency trading and digital assets debit
cards.
Burnley FC’s partnership
with Uphold is expected to secure financial stability for the club. Notably,
Chelsea FC is the only club among the 20 Premier League teams that has not
embraced sleeve sponsorship. The club ended its sponsorship partnership with CMW FX after the latter was raided by law enforcement agencies for suspected fraud.
Although the financial
terms of the Burnely and Uphold partnership remain undisclosed, the entities
expect the collaboration to go beyond mere logo placements, offering mutual
benefits through increased brand visibility.
In the previous season,
Burnley FC did not feature a sleeve sponsor, reportedly due to the nature of
the inventory sales for second-tier Championship Clubs. However, this season,
Burnley has signed two major sponsorships. Alongside Uphold, the club has also
partnered with the Asian sports betting and casino operator W88 as the
front-of-shirt sponsor.
In June, Uphold announced its decision to terminate operations
in Venezuela. This move is attributed to the challenges posed by adhering to US
sanctions. According to the company, these challenges made the continuation of
business in the country untenable.
Navigating Sanctions
Complexity
Following its exit from
Venezuela, London-based Uphold released a statement urging its Venezuelan
customers to withdraw their funds from the platform. The company indicated that
the trading service will remain operational until July 31, after which accounts
will be subject to full restrictions starting September 30.
Uphold underwent a
leadership transition earlier this year, with Simon McLoughlin taking over as
CEO, succeeding JP Thieriot, who held the position since the company’s
inception in 2013. Previously, McLoughlin was the President and COO.
In the midst of the
prolonged legal dispute between Ripple and the
SEC, Uphold disclosed in
April that it never delisted XRP, highlighting its substantial holdings of the
token, totaling $1.04 billion. Besides that, Uphold released its proof of
reserves report, revealing that it held fiat and digital assets in a slightly
over-collateralized ratio.
Last year, Uphold introduced
zero-fee Bitcoin trading for
transactions using national currencies such as the US dollar and the euro. In a
statement, the company stated that this initiative provides its customers with
competitive pricing through its connectivity to 28 underlying exchanges.
