Florida University Lands $5 Million Deal with Ripple, Featuring XRP Logos in Stadium
The University of Florida has signed a multiyear deal with Ripple, a provider of blockchain solutions across traditional and digital finance. The partnership will generate $5 million annually by placing field logos in Ben Hill Griffin Stadium, known as 'The Swamp', starting with Saturday's game against Florida Atlantic.
Ripple is the developer of XRP, a cryptocurrency designed to move money in seconds at a fraction of the cost of traditional banking. As part of the deal, XRP logos will be displayed on the field and other digital properties, while Ripple will also support financial and technology education for student-athletes and the campus community.
The partnership marks a significant step towards incorporating cryptocurrency into mainstream finance. With this deal, the University of Florida is navigating increased financial strain stemming from the NCAA vs. House settlement that requires revenue to be shared with student-athletes.