Copper.co, a provider of digital asset custody and trading solutions, has joined Formula E as a sponsor in a multi-year deal. The company has been named the ‘Official Digital Asset Services Partner’ in the new contract which kicks off with the Diriyah E-Prix on January 28.
The new agreement becomes Formula E’s most profitable sponsorship addition since the Covid-19 pandemic began. Copper.co will be given trackside branding at Formula E events, and the two brands will also collaborate on digital assets.
Jamie Reigle, chief executive officer of Formula E, said, “We look forward to collaborating with Copper’s team to create special experiences for our fans and to showcase the digital asset technology they have built, with a tenacity for progress that mirrors our own.”
Copper.co was established in 2018 and is based in London. It serves as a custodian and trading solution provider for over 400 institutional clients who buy, sell, and need to securely store cryptocurrencies and digital assets.
Dmitry Tokarev, chief executive officer, Copper, commented, “We want everyone to benefit from the market-leading tech we have built as digital assets, and the diverse applications of the underlying blockchain technology, take their place in the mainstream.”
Recently, Formula E has signed a Letter Of Intent (LOI) with the state of Telangana. The new agreement includes Formula E to collaborate with city and state officials to assess the possibility and viability of hosting an E-Prix in the future.
Moreover, Formula E has also extended its association with the delivery service company, DHL. The partnership will focus on the advancement of e-mobility, low-carbon lifestyles and ecologically smart cities. The renewal also keeps DHL as the official founding and logistics partner of the Formula E World Championship.