European Football Giant Benfica Now Accepts Bitcoin and Ether Payments

Portuguese football team, Benfica, has begun accepting both Bitcoin (BTC) and Ethereum (ETH) for match tickets and club merchandise. The feature has been made possible through a collaboration with UTRUST, the digital currency payments gateway. UTRUST’s own UTK token will also be accepted.

The move is a step for adoption for cryptocurrencies, as football is a widely popular sport. Benfica itself has over 14 million fans and is one of Portugal’s most successful football clubs.

The press release states,

The core technology of UTRUST will allow Benfica to take advantage of the increased security and convenience of cryptocurrency payments while protecting the club from market volatility. It will also significantly reduce processing fees and eliminate inconvenient credit-card chargebacks and fraudulent payments.

Benfica CEO, Domingos Soares de Oliveira, celebrated the partnership, saying,

This is an exciting day in the history of S.L. Benfica, as we announce our decision to accept cryptocurrency payments. Our benfiquistas make Benfica the unique and special club it is and we recognize that many of our 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. We are very excited about the possibilities that this partnership with UTRUST presents in the evolution of our e-commerce strategy, and we look forward to accepting our first cryptocurrency payment.

This marks the first time a major European football club has accepted cryptocurrencies as regular payment.

Abhimanyu Krishnan

Abhimanyu is an engineer on paper but a writer by living. To him, the most celebratory aspect of blockchain technology is its democratic nature. While he’s hodling, he can be found reading a good book or making the local dogs howl with the sound of his guitar playing.

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  • Presently Benfica will have the option to take advantage of the crypto showcase by enabling supporters to buy an enrollment, tickets and memorabilia from their official store. It will likewise uncover a large number of clients to the intensity of utilizing cryptographic forms of money through the UTRUST stage.

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