Football Club In Gibraltar To Pay Players In Cryptocurrency

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Gibraltar United Football Club is going to pay its players in cryptocurrency.

Football teams have previously embraced cryptocurrency and blockchain technology, but Gibraltar United F.C. will be the world's first football team to introduce cryptocurrency as payment for players.

The club's owner, Pablo Dana, announced that Gibraltar United F.C. started a sponsorship partnership with blockchain-based platform Quantocoin. UK's Guardian newspaper quoted him as saying all player contracts will include payment agreements in cryptocurrency by next season.

Dana is an investor in Quantocoin.

Gibraltar is a British Overseas Territory in the Iberian Peninsula, actively working on implementing cryptocurrencies and blockchain in state level.

Gibraltar introduced regulations for blockchain-based businesses early this year. The government is reportedly set to launch the world's first legal framework for initial coin offerings (ICOs).

Founded in 1943, Gibraltar United F.C. is a semi-professional team playing in the Gibraltar Football League's Premier Division, a league that became UEFA certified only in 2013.

Football superstars such as Roberto Carlos, Luis Figo, Michael Owen and Lionel Messi have formed partnerships with cryptocurrencies.

The London based Arsenal Football Club had signed a sponsorship with CashBet, a cryptocurrency, in January.

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