Kraken has announced a partnership with Spanish football club Atlético de Madrid.

The deal sees the crypto exchange become the official crypto and Web3 partner of the Madrid-based club, with collaboration set to start in the 2024/2025 season.

Kraken will also be Atletico’s official sleeve partner for both the men’s and women’s teams.

Crypto and sports merge

Over the past few years, crypto firms and global brands, including in sports, have forged key relationships. Mainly, it’s been around investments aimed at marketing crypto services and products, although a few have ended up being more controversial amid major collapses such as the FTX implosion in 2022.

For this particular partnership, Kraken says teaming up with the Spanish club aims to bring together the world of sports and Web3. The goal is to unlock further opportunities in innovation and fan engagement for football lovers and for the exchange’s crypto clients, Kraken wrote in a blog post.

“We’re proud to partner with such a distinguished football club, which equally recognises that success requires a meticulous focus on its own processes. We’ve put in nearly 13 years to become one of the most trusted crypto platforms and we look forward to collaborating with Atlético de Madrid to educate more people about the true potential and value of crypto,” Mayur Gupta, Kraken’s chief marketing officer, said.

Atlético de Madrid’s COO Óscar Mayo commended the partnership, noting the two companies have shared values for innovation and technology. Kraken is the partner to help the football giant to reach its objectives in this regard.

“We are sure that this partnership will ensure that our fans enjoy a digital experience which extends beyond matchdays at the stadium,” Mayo added.

Kraken has a partnership with Williams Racing Formula 1, a deal the companies announced in 2023.