WhiteBIT Rescues Barcelona FC, Pays Off Club’s Debt

WhiteBIT crypto exchange’s financial contribution to Barcelona FC sees prominent club’s player off to his stardom

Web3-landscape has shared strong boundaries with the world of sports for quite a time. While this had been limited to sponsorships and catchy marketing cases, WhiteBIT has put an all-new meaning to sports and Web3 collaboration.

How one of the largest European exchanges can save the success of Barcelona FC and the career of a football’s rising star – below.

Since August 9, FC Barcelona has been facing hurdles in signing up its prominent newcomer Dani Olmo, who transferred to the Spanish club from German RB Leipzig. La Liga – top men’s professional football league in Spain – did not pass an approval for the addition due to the Barcelona's debt.

Libero investment fund was obliged to pay off €40 million ($43.8 million) for purchasing a share of Barça Vision – FC Barcelona’s Web3-built fan engagement platform. The deadline for payment has already passed with no funds transferred. This put at risk the team expansion, as Barça Vision deal envisaged using the funds to bolster its sporting ambitions by signing new players.

A half of debt was covered by American catering company Aramark, while FC Barcelona has been actively seeking vital funding to cover another half.

As reported by Mundo Deportivo, another €20 million of debt will be covered by WhiteBIT – one of the largest European crypto exchanges. Its founder – Volodymyr Nosov – is also an owner of Ukrainian-based Metalist 1925 football club.

The deal closure will finally allow Dani Olmo to debut for Barcelona FC and play his first match against Rayo Vallecano on August 27.

WhiteBIT is an exclusive cryptocurrency partner of FC Barcelona since December 2022.

FC Barcelona and WhiteBIT cooperation proves that cryptocurrency is strengthening its position as a global industry with significant influence. But what matters the most is groups of people behind this, who converge their actions for the same goals. In this case – supporting national sport and its contributors.