Stablecoin Giant Tether Acquires Minority Stake in Legendary Italian Football Club Juventus

Top stablecoin firm Tether is joining forces with one of the winningest football clubs in the world.

According to a new announcement from Tether, the crypto firm has purchased a minority stake in the Torin, Italy-based football club Juventus.

Says Tether CEO Paolo Ardoino of the new partnership,

“Aligned with our strategic investment in Juventus, Tether will be a pioneer in merging new technologies, such as digital assets, artificial intelligence and biotech, with the well-established sports industry to drive change globally. We will explore avenues for innovative collaborations and the potential to revolutionize the global sports landscape.”

Juventus is an institution that is older than most banks. Founded in 1897, Juventus has won Italy’s top flight Serie A a record 36 times, most recently in 2020. The Zebras have also won the Coppa Italia a record 15 times and the Supercoppa Italiana a record nine times. The Italian giants are considered one of the top five football clubs of all time by the UEFA club coefficient rating and currently boasts two American stars, Weston McKennie and Timothy Weah.

According to the Tether announcement, the funds for the stakes were provided by Tether’s investment arm, which relies on assets outside of the stablecoin reserves.

Tether is far from the first crypto giant to invest in the beautiful game. In 2023, Coinbase inked a sponsorship deal with Borussia Dortmund, a legendary German football club that made it to the Champions League final last year.

The year before that, former Juventus star and living football legend Cristiano Ronaldo released exclusive non-fungible tokens (NFTs) with Binance.

Featured Image: Shutterstock/balabolka