Swyftx signs major sponsorship deal with Aussie National Rugby League

Swyftx, a cryptocurrency exchange based in Brisbane, has signed a three-year sponsorship agreement with the Australian National Rugby League (NRL).

Swyftx is a registration in Australia and New Zealand that provides trading services for around 300 digital assets. Swyftx began operations in 2018, and the NRL deal is another important step toward reaching out to sports fans with the local cryptocurrency and blockchain industry.

The new agreement will cover the NRL, Women’s NRL (NRLW), State of Origin, and All-Star games. A fourth-year extension is also available until 2026. Swyftx’s branding will be shown on LED signage in stadiums, as well as virtually via television broadcasts, while its name will also appear on the league’s in-game review and decision board, which is expected to be called the “Swyftx Bunker” in 2023.

According to the CEO of Swyftx, Ryan Parsons, Australia is witnessing an “almost overnight” mainstreaming of crypto because to the partnership:

“The partnerships we’re seeing at the moment represent a sign of growing confidence in the future of crypto and its potential for universal adoption. The real question now isn’t whether cryptocurrency is here to stay, but how quickly it reshapes the future of the global economy and traditional financial services.”

In 2022, Parsons expects the crypto industry to take market share from banks and traditional finance, with digital assets still being a “niche.”

“We saw that process begin in 2021, it’ll only extend and deepen into this year as you get more product offerings into the market that provide hyper-competitive alternatives to existing bank products.”

According to the head of Australia’s largest cryptocurrency exchange, crypto is no longer a niche topic in the country and that the target demographic is getting harder to define as the market matures. “We’re also seeing a change in demographic reach, so you can no longer pinpoint a “normal” bitcoin owner in the country. We expect regulation to accelerate this process, especially with regard to business adoption. However, it all depends on what kind of legislation emerges.”

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