Cryptocurrency platform StormGain has announced a new partnership with English Premier League outfit Newcastle United.

The sponsorship deal will see the company’s logo appearing on all 2019/20 first team shirts, similar to CoinDeal’s partnership with Wolverhampton Wanderers.

Newcastle United’s head of commercial, Dale Aitchison, commented: “We are delighted to welcome StormGain on board as Newcastle United’s new Official Sleeve Partner.

“We are always looking to support the club’s development by pursuing new commercial opportunities and this represents another important partnership for the club.

“StormGain will offer a range of incredible opportunities and money-can’t-buy experiences for fans, so we are really excited to be working together.”

The platform recently launched its own app enabling users to invest and trade in cryptocurrencies.

StormGain will benefit from exposure around St. James’ Park, at the club’s Training Centre and within various club communications, along with the sleeve sponsor.

Newcastle said the platform will also engage with supporters by providing a range of offers and opportunities such as competitions to win tickets, matchday hospitality, signed merchandise and VIP meet and greets with first team players.

Alex Althausen, CEO, StormGain, explained: “We are confident that this partnership will help us to expand our brand and activity in the most effective way, using the worldwide draw of Premier League football.

“We share many core values with Newcastle United – effort, determination and the pursuit of success – and we could not have imagined a better partner to start such an exciting adventure with.”

Crypto in the mainstream

With significant deals agreed between football clubs and crypto-based firms, such as Benfica and UTRUST, there is a clear push from the sector to impose itself into mainstream sport.

However Alex Khawaja, CMO at Themis, believes mainstream adoption of crypto assest is “a long way off still” and he reckons more has to be done on a consistent basis to support its growth.

Speaking to PaymentExpert, he said: “The fact that a trading platform – which is allowing people with no previous trading knowledge to leverage 100x on an already highly speculative market – sponsor a third rate team doesn’t mean that acceptance is around the corner.

“Even with the last couple of months bull run, it was driven mainly by institutionals rather than retails.

“The industry needs more mainstream, knowledgeable, unbiased media exposure, not just The Sun or The Telegraph posting when Bitcoin pumps 20% in an hour.”