Brazilian Football Team Starts Accepting $SHIB, $DOGE, and Other Cryptos for Payments

Brazilian football club São Paulo FC has started accepting cryptocurrency payments via the Latin American cryptocurrency trading platform Bitso. Among the assets it accepts are meme-inspired currencies like Dogecoin ($DOGE) and Shiba Inu ($SHIB).

The Brazilian football club partnered with Bitso earlier this year in January, with the trading platform becoming a sponsor of the club for a three-year period. The new cryptocurrency payment option will be available for games played where São Paulo is at home, whether that’s in its stadium, the Morumbi, or somewhere else.

For now, cryptocurrency payments are only available for São Paulo FC’s fan members and are available in multiple cryptocurrencies along with the two meme-inspired cryptos mentioned above. Other payment options include $BTC, $BCH, $ETH. LTC, and five stablecoins pegged to the value of the U.S. dollar, including GUSD, USDC, and DAI.

According to a local news outlet Bitso’s market director Antônio Mota revealed that allowing cryptocurrency payments for the club was one of the partnership’s initial goals, adding:

Being able to make this service available for the first time in Brazil represents an important step in Bitso’s mission to make cryptocurrencies more accessible and useful in people’s daily lives, promoting more freedom and financial inclusion for Brazilians.

The first fan to buy a ticket with cryptoassets, Fábio Gloeden Brum, was awarded by Bitso and São Paulo FC an NFT representing his ticket. The partnership is also set to see Bitso list São Paulo FC’s fan token on its platform.


As CryptoGlobe reported, popular Mexican-style fast-food restaurant chain Chipotle also recently started accepting cryptocurrency payments through digital payments firm Flexa, which supports around 98 currencies including Bitcoin and Ethereum.




The cryptocurrencies Chipotle is accepting also include meme-inspired cryptoassets like DOGE and SHIB. Shiba Inu’s growing adoption comes as the SHIBArmy keeps on growing and token burning efforts keep decreasing its circulating supply.

Last week, SHIB’s community burned over 2.4 billion tokens shortly after Shiba Inu’s burn rate exploded after the launch of ShibaSwap’s burn portal, which rewards users for destroying their tokens.

The portal was launched on April 23 and from that point on until rewards started being distributed the SHIBArmy burned around 29.5 billion $SHIB. After rewards started being distributed earlier this week, the figure jumped to over 53.5 billion tokens at the time of writing.

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Disclaimer

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

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Featured image via Pixabay