Stablecoin Giant Tether Buys Minority Stake in Juventus Soccer Club

Tether Investments, the investment wing of stabile institutions Connectannounced that it bought a minority interest in the Italian Serie A Soccer Club, Juventus.

The company said that the investment aims to build a new synergy between sport and digital assets’, eventually going to his goal to integrate Stablecoins and digital assets into daily life. Financial details of the investment were not disclosed.

“Tired of our strategic investment in Juve, Tether will be a pioneer in merging new technologies, such as digital assets, AI and Biotech, with the established sports industry to send change worldwide,” said Tether CEO Paolo Ardoinino in a statement. “We will explore roads for innovative collaborations and the potential to bring about a revolution in the global sports landscape.”

The company has an earlier connection with the world of football, together with the city of Lugano, Switzerland last year for its “Plan B” Bitcoin initiative, the only official sponsor for FC Lugano’s Kits.

In the midst of the news about the investment, crypto fan -tokens saw large football clubs on the Chiliz -Blockchain all remarkable price increases, led by the Juventus -Tokken (JUV) that at the time of writing has increased by more than 100% to $ 2,16.

Other popular clubs such as Manchester City, FC Barcelona and Paris Saint-Germain have all risen by more than 5% in the last 24 hours.

Crypto companies have a long history with sport, especially when naming rights and sponsorship. Although the trend decreased in the aftermath of the bankruptcy of FTX, almost twice as many sponsorship offers were signed in 2024 than in 2023, According to Coingecko.

Juventus Football Club plays in the best professional football competition in Italy, Serie A. The club was founded in 1897 and has won 36 league titles.

Published by Andrew Hayward