Major U.S.-based cryptocurrency exchange Coinbase has expanded its partnership with German soccer team Borussia Dortmund (BVB) to include in-stadium advertising and promotions across all BVB marketing channels.
According to a recent blog post by Borussia Dortmund, Coinbase has doubled down on its partnership with BVB, becoming its premium partner. As part of the new expanded partnership, Coinbase brand advertising will be featured on the SIGNAL IDUNA PARK perimeter and cam carpet in Borussia Dortmund, Germany's largest football stadium.
Coinbase initially began its partnership with BVB last July. As part of the deal, Coinbase’s ad runs on video screens during home games at the stadium. The exchange also offers cryptocurrency workshops for BVB employees.
Stadium did not disclose the terms of the deal, including how much Coinbase paid for the deal. The deal will close at the end of June this year.
Coinbase is the largest cryptocurrency exchange in the United States. The exchange is also available in over 100 countries around the world, including Germany. It’s worth noting that Coinbase has been grappling with a number of issues lately. Earlier this month, the exchange announced its third round of layoffs in less than a year amid an ongoing bear market, cutting a total of 950 employees, or 20% of its workforce.
The company also revealed that it was exiting Japan due to market conditions. Coinbase stock, which hit an all-time high of around $370 in April 2021, has plummeted since then, losing nearly 90% of its value from its all-time high.
