F1 cars are becoming posters and banners for crypto companies, which is hardly surprising because many crypto exchanges and platforms out there have got plenty of cash and are 100% invested in growing their customer base. Alfa Romeo – officially known as ‘Alfa Romeo F1 Team Orlen’ is the latest team to join the crypto frenzy after Mercedes, Ferrari and Red Bull, signing a deal with a crypto exchange called VAULD.
Based out of Singapore (just like Bybit, which recently finalised a $150 mln deal with Red Bull F1, ed.), Vauld was founded in 2018 and it allows you to store, buy, lend, borrow and trade cryptos.
Their rates are competitive but not spectacular, the APY on Bitcoin, for example, is 6.70%, while stablecoins such as DAI, USDT, TUSD and USDP guarantee an APY of 12.68%. The platform also allows trading and borrowing (up to an LTV of 66.67%).
Alfa Romeo F1 Team Principal Frédéric Vasseur said that “the world of cryptocurrencies and the blockchain technologies are huge markets with a technical complexity that makes them particularly interesting”, and his words were echoed by Darshan Bathija, CEO and Co-founder of Vauld, who added: “Our mission is to accelerate the transition to decentralised money and we’re glad to join forces because it’s a massive step in that direction.”
I agree. And might I add, we faster we get there, the better.
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