Aston Martin Aramco Formula One Team has partnered with cryptocurrency platform Coinbase in a multi-year deal fully paid in USDC stablecoin, marking a first in Formula One history.
Coinbase Pays Aston Martin Aramco Sponsorship Entirely in USDC Stablecoin
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USDC Stablecoin Fuels Landmark F1 Sponsorship Between Aston Martin Aramco and Coinbase
The Aston Martin Aramco Formula One Team rebranded in 2021 under owner Lawrence Stroll, announced a sponsorship agreement with Coinbase settled entirely in the stablecoin USDC. This marks the first time a Formula One team has fully transacted a partnership using a stablecoin pegged 1:1 to the U.S. dollar.
Coinbase, founded in 2012 and serving over 560 million users globally, will have its branding featured on the team’s AMR25 car halo, rear-wing end plates, and drivers Fernando Alonso and Lance Stroll’s race suits. The deal Coinbase said aims to advance crypto adoption and explore blockchain-driven fan engagement.
The Aston Martin Aramco team traces its roots to the Jordan Grand Prix, established in 1991. After multiple ownership changes—including iterations as Midland, Spyker, Force India, and Racing Point—the team was acquired by Stroll in 2020 and rebranded in 2021 with sponsorship from Saudi Arabia’s Aramco.
Jefferson Slack, the team’s commercial managing director, called the Coinbase deal a commitment to innovation, highlighting USDC’s stability. Coinbase VP Gary Sun noted the partnership aligns with Formula One’s focus on cutting-edge technology.
“It is also our debut in Formula One, and we are excited to embrace an industry that equally values pushing the boundaries with transformative ideas and technology,” the Coinbase executive remarked in the Aston Martin Aramco release.
While the deal was made in USDC, financial terms were undisclosed. The collaboration highlights crypto’s expanding role over the years in sports sponsorships, leveraging blockchain for transactional efficiency.
