Arsenal Is Getting Into Crypto World. Sort of
- London club sets up partnership with online gambling platform
- CashBet seeks at least $40 million in initial coin offering
An English Premier League football match between Arsenal and Crystal Palace in London on Jan. 20.
Photographer: Ben Stansall/AFP/Getty Images
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London’s Arsenal Football Club, one of the world’s best-known soccer teams, is lending its name to promote a new digital token sold by a developer of gambling platforms.
CashBet Inc. says it plans to raise $40 million to $70 million in a sale of CashBet Coins set to begin Wednesday. Its webpage promoting the digital token features the English Premier League team’s crest and photos of players including striker Alexandre Lacazette, while the club describes CashBet as its “first official cryptocurrency partner.”