NRL Signs Three-Year Deal With Australian Crypto Exchange Swyftx
The “major investment” will also see Swyftx become the naming sponsor in addition to the official exchange partner of the NRL
Swyftx CEO Ryan Parsons and NRL Boss Andrew Abdo | Source: Salty Dingo
key takeaways
- Swyftx has become the official exchange partner of Australia’s National Rugby League
- While financial details of the deal have not been disclosed, a Swyftx spokesperson told Blockworks it was “the biggest crypto sports sponsorship” in the country
Swyftx, one of Australia’s fastest-growing crypto exchanges, has signed a three-year deal with the country’s National Rugby League (NRL) for an undisclosed sum.
The deal, which contains options to extend beyond 2026, crowns Swyftx as the “official exchange partner” of the league, according to a press release on Wednesday. The Swyftx brand will appear on LED signage in stadiums as well as virtual signage broadcast to more than 100 million viewers per year, the company said.
“This is a defining partnership for the NRL and Swyftx and represents a major milestone for the Australian crypto industry,” said Swyftx CEO Ryan Parsons. “It’s now clear that crypto and digital asset investing forms part of a typical portfolio, and it’s great to see Australians embracing this new technology.”
The “major investment” will also see the exchange become the naming sponsor for the NRL’s decision board — a sign displaying “try” or “no try” when a team scores — which will be renamed “Swyftx Bunker” in 2023.
While the cost of the deal was not disclosed, a Swyftx spokesperson told Blockworks the amount is larger than Singapore-based exchange Crypto.com’s AUD $25 million ($18 million) deal with the Australian Football League (AFL) last month.
“We believe it is the biggest crypto sports sponsorship in Australia,” the spokesperson said.
In January, Crypto.com signed a sponsorship deal with the AFL that saw the company installed as the official crypto exchange partner of the AFL and the women’s AFLW league. Indeed, deals between sporting organizations and crypto businesses — namely exchanges — are becoming increasingly more frequent.
When asked whether the deal was a direct response to Crypto.com’s push for a greater share of crypto advertising in the country, the spokesperson said Swyftx had “already been looking for the right big-name partnership for a while.”
“It is certainly an indication of growing confidence in the future of crypto and the importance of brand recognition,” they said. “The NRL has millions of viewers every year, so it gives us a golden opportunity to announce ourselves and say we’re here and helping Aussies embrace these new technologies.”
Brisbane-based Swyftx’s rise to prominence can be seen in the ballooning of its customer base by 1200% last year. Customer numbers rose from around 40,000 at the start of 2021 to more than 500,000 by year’s end, the company said.
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