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Mercedes F1 signs a partnership with Bitcoin exchange FTX

The Mercedes Formula 1 team has announced a new long-term partnership with the global cryptocurrency broker FTX.

Mercedes F1 closes partnership with Bitcoin exchange

Mercedes F1 closes partnership with Bitcoin exchange

The multi-year deal includes branding on drivers’ cars and uniforms, which is expected to begin unveiling at the Russian Grand Prix on 26 September.

In addition, the FTX brand will be present on Mercedes trucks, in their garages and on track facilities.

Mercedes drivers Lewis Hamilton and Valtteri Bottas will also be available for the FTX to utilize to expand its global reach among the Formula 1 fan base.

In addition, Mercedes and FTX are expected to launch joint initiatives such as non-fungible tokens (NFTs) and corporate social responsibility projects.

“We are very excited to welcome FTX, one of the world’s leading cryptocurrency exchanges, to the Mercedes-AMG Petronas Formula 1 team,” said Toto Wolff, team leader and CEO of Mercedes.

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“Their innovative spirit and creative energy in a rapidly developing global industry make them an ideal partner in our relentless pursuit of performance. Together, we look forward to creating new and exciting opportunities to interact with our fans and provide world-class experiences for them.”

The move makes Mercedes the latest motorsport brand to form a partnership in the cryptocurrency market.

Earlier this year, Formula 1 agreed to a racing sponsorship deal with Crypto.com, which is reportedly worth around $100 million.

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