Swiss-based startup cryptocurrency payment solution, UTRUST, have partnered with Portugal’s most successful football club, S.L Benfica. The partnership marks a new era for the Lisbon based football champion, as the club becomes the first in all of Europe to adopt a cryptocurrency payment option for their products and services.

The Primeira Liga Football champions S.L Benfica together with UTRUST will provide cryptocurrency services where club supporters can easily use their cryptocurrency as a form of payment in purchasing match tickets, clothes and many more from the official Benfica online store. The cryptocurrency payments options include UTRUST’s intrinsic token UTK, alongside BTC and ETH. These methods will be leveraged by a fan based of about 7 million people, and another 14 million supporters across the globe.

S.L. Benfica is renowned for having one of the highest number of supporters outside of Portugal. The figure currently stands at an estimated 14 million after the club reclaimed the elite Primeira Liga title for a record 37th time.

UTRUST as a cryptocurrency payment solution providing instant crypto-to-fiat conversions on the blockchain, will strengthen the Primeira title holder e-commerce strategy and open a floodgate for more expansion for its global audience. S.L Benfica will aim to harness the increased security provided by UTRUST blockchain and the conveniences of cryptocurrency payments. This method of payment simply eliminates the inconveniences of credit-card chargebacks and any act of fraud that may take place with the traditional method. Above all this, is the benefits of being able to receive settled payments directly into bank accounts in fiat on the same day, thanks to UTRUST innovative and unprecedented technology.

Domingos Soares de Oliveira, S.L Benfica CEO, recognized the need to adopt latest technology trend, he noted:

“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’s journey through uncharted waters has earned it a SRO approval to operate as a ‘financial intermediary’ under VQF, the self-regulatory organization approved by Switzerland’s independent financial-markets regulator, FINMA.  This recognition solidify the use cases of UTRUST and the importance of its overall technology. S.L Benfica will leverage this use case in protection against market volatility, and to significantly reduce processing fees, while boosting and expanding its home ground of the Estádio da Luz by bringing in technically driven cryptocurrency holders residing in Portugal and overseas to its marketplace.

Nuno Correia, UTRUST Co-Founder and CEO, express his delight;

“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 a worldwide and we are delighted to be making cryptocurrency payments possible for their 14 million supporters around the world.”

Disclosure: This is a sponsored article