Benfica become first European club to accept cryptocurrency payments

Benfica become first European club to accept cryptocurrency payments
Portuguese soccer champions Benfica have become the first major European club to accept cryptocurrency payments.

The Primeira Liga outfit have partnered with UTRUST, a cryptocurrency payment solution, to give their supporters the option to use the technology to purchase match tickets and merchandise through the official Benfica online store.

Benfica aim to utilise the partnership to evolve their e-commerce strategy and expand their global audience, bringing tech-savvy supporters and cryptocurrency holders in Portugal and abroad closer to the Estádio da Luz.

UTRUST’s technology allows Benfica to benefit from the increased security and convenience of cryptocurrency payments while also protecting the club from market volatility. It will also significantly reduce processing fees and eliminate inconvenient credit card charge-backs and fraudulent payments.

In addition, Benfica will be able to settle payments directly to their bank in fiat on the very same day they are received.

Benfica Chief Executive Domingos Soares de Oliveira said: “This is an exciting day in the history of S.L. Benfica as we announce our decision to accept cryptocurrency payments.

"Our benfiquistas make Benfica the unique and special club it is and we recognise that many of our supporters are now digital users first so we want to be ahead of the curve when it comes to adopting novel technologies and giving our supporters the best online experience.

"We are very excited about the possibilities that this partnership with UTRUST presents in the evolution of our e-commerce strategy and we look forward to accepting our first cryptocurrency payment.”

UTRUST Co-Founder and Chief Executive Nuno Correia added: “This partnership with Portugal’s number one football club marks a major milestone for UTRUST and the blockchain ecosystem as a whole. Benfica is one of the biggest sporting clubs worldwide and we are delighted to be making cryptocurrency payments possible for their 14 million supporters around the world.”

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