Aston Martin claim F1 first by being paid in crypto for sponsorship

The exchange platform has become the team's official crypto partner ahead of the 2025 Formula 1 season. Aston Martin said the Coinbase sponsorship, whose terms were not disclosed, would be paid to the team in USDC pegged 1:1 with the U.S. dollar.

In a press release on Friday, Aston Martin announced: "The partnership will be paid entirely in USDC, a stable digital currency designed to be pegged 1:1 to the U.S. dollar. This marks the first time any Formula One team has publicly announced the full payment of a partnership with a stablecoin like USDC.

As part of the partnership, Aston Martin Aramco will explore bringing fan engagement opportunities on-chain. Coinbase branding will debut on the halo and rear-wing end plate of the AMR25 throughout the season, as well as on drivers Fernando Alonso and Lance Stroll's racing suits.

Gary Sun, Vice President, Marketing, Coinbase said: "This is a huge milestone for Coinbase, marking the first time we've invested in a sports partnership entirely in cryptocurrency. It is also our debut in Formula 1.

"We are excited to embrace an industry that equally values pushing the boundaries with transformative ideas and technology. We look forward to building on this collaboration with Aston Martin Aramco as we strive for greater economic freedom globally," added Sun.

Formula 1teams have a number of cryptocurrency sponsorships, with crypto.com an official partner of the Liberty Media-owned sport.