Quantocoin have made another football investment made entirely in cryptocurrency.
Last month, we reported how the owner of Gibraltar United – Pablo Dana – announced all player contracts would include a cryptocurrency agreement, becoming the world’s first football team to have a direct cryptocurrency investment.
Now, Dana – a partner at crypto banking platform Quantocoin – has scored again, this time with another world first.
Dana has taken over 25% of Italian Serie C side Rimini FC 1912 with Quantocoin, making it the first football club to be purchased with a crypto payment.
It is understood that Pablo Dana and his board are keen to make further investments in football, and are already looking for their next deal in the sport with the aim of creating financial transparency in a game which has had its fair share of corruption allegations.
The blockchain system lends itself well to sport, allowing payments to be made through a series of automated and incorruptible files which simply allows no room for bribes or ‘backhanders’.
“We are working exactly on the ideas that UEFA want to put into place,” Dana explained.
“This is transparency in football and we are looking to reduce corruption through our Quantocoin platform.”
Although considered a minor side based in northern Italy, Rimini FC has a long and proud history in the Italian second and third divisions. It has, however, suffered with debts over the last decade or so, yet still regularly fills the 9,700-seater Romeo Niri stadium.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.