Crypto exchange OKX Inks F1 Mega Deal

Crypto exchange OKX Inks F1 Mega Deal

The upcoming Formula 1 race in Miami-which already bears the name of a crypto company-will also have a team that is sponsored by a competing company in space.

Before the Crypto.com Miami Grand Prix on May 8th, Exchange Okx has teamed up with McLaren Racing in a multi -year contract worth "hundreds of millions", a spokesman told Blockworks.

The OKX branding will appear during the event on McLaren cars as well as on the suits and helmets of the McLaren F1 drivers Lando Norris and Daniel Ricciardo.

"We choose our partners on the basis that we can offer fans and users meaningful experiences; we are not only interested in brand presence," said Haider Rafique, Chief Marketing Officer from OKX, in an email to Blockworks. "We want to invest in both fans and in our partners and create a strong basis for long -term future cooperation."

The deal came to OKX shortly after Rafique came from the competing Stock Exchange Okcoin. Before Okcoin, he was growth manager at Blockchain.com and head of product marketing at Microsoft.

rafique was a special consultant of the OKX leadership team at the beginning of this year and helped earn several million dollars partnership contract with ManchesterCity. The company announced last month that it would build a global marketing team to make crypto a mainstream and to lead the company's international expansion efforts.

okx is the second largest according to Blockworks compiled data and report with more than 20 million users in 180 markets.

crypto.com became the first cryptocurrency sponsor of Formula 1 in a registered $ 100 million deal. announced last June . It announced in February that it would be the title sponsor of the Grand Prix of Miami.

Nevertheless, the deal is the first of its kind, said an OKX spokesman and found that no other crypto company was previously the largest partner of a Formula 1 team. Bybit in February Allied “ of the F1 team from Red Bull, behind the title partner Oracle.

"In a rapidly developing area, OKX is a long-established crypto brand that brings innovation, analysis and accuracy to achieve great things," said Zak Brown, CEO of McLaren Racing. "The very first Miami Grand Prix is ​​the perfect opportunity for us to start this important partnership through which we will work with OKX to raise our fan experience to a whole new level."

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