S.L Benfica, Portugal’s most popular club is now accepting cryptocurrency. This was made possible after their partnership with UTRUST, an online payment platform.

S.L Benfica fans will now be able buy their favorite club’s merchandise using cryptocurrency, courtesy to the partnership.

The club states the decision of consorting with UTRUST was made after realizing the need to upgrade e-commerce strategy. S.L. Benfica is hoping that this move will propel their global fan base. They currently have a fan base of 14 million and stands out as the most decorated club in Portugal.

The CEO of S.L. Benfica, Domingos Soares de Oliveira said, “We recognize that many of supporters are now digital users first so we want to be ahead of the curve when it comes to adopting novel technologies and giving our supporters the best online experience.”

The club officials are hoping this strategic move will improve users experience and appeal to the holders of cryptocurrency. The addition of cyptocurrency will be able to get rid of problems related to digital card payment, like chargebacks and fraudulent payment. On the other hand, it would allow funds to be deposited to Benfica’s bank account in fiat money the same day of each purchase done in its online store.

The club is contemplating to receive its first cryptocurrency as the CEO of the club commented, “We look forward to accepting our first cryptocurrency payment.”

The CEO and Co-founder of UTRUST, Nuno Correia commented on the newly-agreed pact, “This partnership is a step forward in the reach of financial services within the blockchain ecosystem. The partnership with Portugal’s number one football club marks a milestone for UTRUST and the blockchain ecosystem as a whole.”

The football world, by so far, has been the most enthusiastic sports arena to embrace blockchain technology and crytocurrency. S.L Benfica is one of the recent names in European football to join the bandwagon.

Disclaimer:

The information contained in this article is for educational and informational purposes only and is not intended as a health advice. We would ask you to consult a qualified professional or medical expert to gain additional knowledge before you choose to consume any product or perform any exercise.

Author

Aspiring journalist working for sportzbusiness.com and exploring the juncture of sports, business and technology. Interested in sports economy and logistics of sports policy-making.

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