Circle Secures USDC Sponsorship with Premier League Club Chelsea FC

Circle, the issuer of the world's second-largest stablecoin USDC, has secured a major sponsorship deal with Premier League club Chelsea FC. The partnership sees Circle become the main shirt sponsor of Chelsea, with the USDC logo set to appear on the front of the team's jersey. This marks a significant milestone for Circle and the cryptocurrency industry as a whole.

The deal is reportedly worth around £65 million ($88.3 million) per year, although exact financial terms remain unconfirmed. The agreement comes after Chelsea had been seeking this revenue stream for three years, making it a valuable addition to their sponsorship portfolio.

This partnership also highlights the increasing presence of crypto companies in mainstream sports sponsorships. Circle's authorization by the UK's Financial Conduct Authority (FCA) through an e-money license has allowed them to secure this deal, which sets a precedent for other cryptocurrency firms looking to enter the market.