From crypto casinos to brokers and beyond, the world of cryptocurrencies has been making considerable strides in the world of football through sponsorships, brand ambassador deals and much more in recent years.
In the latest of such deals, John Stones, the Manchester City and England defender, it has been announced, will continue his role as Global Brand Ambassador for Axi, an online Forex and CFD broker.
This announcement comes in the wake of Axi's launch of fiat-settled crypto perpetual contracts, a move aimed at addressing regulatory concerns on transparency.
Stones has been representing Axi since the beginning of the 2023/24 season and will continue to be a part of Axi’s global marketing activities. His association with the brand has been instrumental in promoting Axi's offerings to a global audience.
Axi's newly launched fiat-settled crypto perpetual contracts allow traders to access crypto derivatives without the need to convert funds into stablecoins. This innovative approach is designed to address regulatory concerns about transparency in the crypto market.
Axi's association with football extends beyond Man City defender John Stones. The broker is the Official Online Trading Partner of Manchester City, Manchester City Women, Brazilian club Bahia, and LaLiga side Girona. These partnerships are part of Axi’s wider sports sponsorship strategy, aimed at enhancing its global visibility and reach.
Settling in fiat, according to Axi, reduces counterparty risk and provides clearer tracking of balances and performance. Stuart Cooke, Head of New Business at Axi, stated that the product aims to address concerns about opaque trading environments, a move that comes as regulators increase scrutiny of transparency and investor protection in crypto markets.
Axi has significantly expanded its crypto perpetuals offerings, adding over 150 contracts across major and emerging digital assets. Perpetual futures now account for nearly 70% of Bitcoin volume and 76% of derivatives activity globally.
In addition to this, Axi has added the MT5 platform to its funded trader program, Axi Select. This program provides access to live trading capital ranging from $5,000 to US$1 million, without evaluation fees, demo account requirements, or time limits.
The prop trading industry has faced increased regulatory scrutiny in recent years, with changes from MetaQuotes in 2024 affecting the market. A recent survey indicated that 70% of traders support increased oversight, highlighting the need for transparency and accountability in the industry.
Axi's continued association with John Stones, its partnerships with football clubs, and the launch of fiat-settled crypto perpetual contracts all point towards a strategic approach to enhance transparency, reduce risk, and cater to the evolving needs of traders.
