Aston Martin Aramco partners with Coinbase in USDC-paid deal

Aston Martin Aramco Formula One Team has announced a multi-year partnership with Coinbase, marking Coinbase’s debut in Formula One.

The deal is notable for being fully transacted in USDC (USDC), a stablecoin pegged to the U.S. dollar. This is the first time a Formula One team has disclosed receiving full payment for a partnership in stablecoin.

Coinbase branding will be displayed on the halo and rear-wing end plates of the AMR25 race car, as well as on the racing suits of drivers Fernando Alonso and Lance Stroll throughout the season.

The partnership aims to promote Coinbase’s mission of driving global crypto adoption and economic freedom. Additionally, Aston Martin Aramco will explore onchain fan engagement opportunities.

Jefferson Slack, Managing Director of Commercial at Aston Martin Aramco, highlighted the innovative nature of the deal.

“This partnership shows the trust and confidence we place in Coinbase’s expertise as a leader in digital finance. By transacting this deal fully in USDC, we’re signalling our commitment to innovation, building a sustainable, forward-thinking relationship with Coinbase.”