The European Squash Federation has become the first major sports federation in Europe to embrace cryptocurrency by adopting Bitcoin in its operations. This is stated in a recent article on the federation's website.
According to the article, the ESF board has decided this as a strategic move to reflect its forward-looking approach to financial management and digital innovation.
“By adopting Bitcoin, we are not only modernizing our financial approach, but also offering new opportunities for engagement and support within the squash community,” said Otto Kalvø, vice president of the European Squash Federation, who is leading the project, and who also says: “We believe this will open doors for innovation and growth.”
One of the measures ESF is now taking is to keep Bitcoin as an asset on its balance sheet. They are thus following the example of many leading global institutions. In addition, the ESF will facilitate the use of Bitcoin both for inbound payments and for outbound transactions, where deemed appropriate.
ESF has enabled pure Bitcoin donations so that fans, companies and brands can support the work of the federation, including some special projects that will be announced in the coming months.
In addition, ESF will leverage its recently launched media platform, European Squash TV, to enable fans to directly support players, clubs and national squash federations through donations. This, according to the ESF, will be able to strengthen engagement with the squash community, strengthen grassroots development, promote talent and improve the European squash ecosystem.
ESF also holds out hope that the decision will help the federation, and squash as a whole, attract sponsorship deals and partnerships from the crypto industry. This, according to the ESF, will help strengthen the sport as it prepares for its long-awaited Olympic debut at the next Games in Los Angeles in 2028.
With this step, which ESF itself describes as bold, ESF wants to inspire other sports federations to explore new ways to leverage digital technology for the benefit of athletes, fans and the wider sports community.
The European Squash Federation has become the first major sports federation in Europe to embrace cryptocurrency by adopting Bitcoin in its operations. This is stated in a recent article on the federation's website.
According to the article, the ESF board has decided this as a strategic move to reflect its forward-looking approach to financial management and digital innovation.
“By adopting Bitcoin, we are not only modernizing our financial approach, but also offering new opportunities for engagement and support within the squash community,” said Otto Kalvø, vice president of the European Squash Federation, who is leading the project, and who also says: “We believe this will open doors for innovation and growth.”
One of the measures ESF is now taking is to keep Bitcoin as an asset on its balance sheet. They are thus following the example of many leading global institutions. In addition, the ESF will facilitate the use of Bitcoin both for inbound payments and for outbound transactions, where deemed appropriate.
ESF has enabled pure Bitcoin donations so that fans, companies and brands can support the work of the federation, including some special projects that will be announced in the coming months.
In addition, ESF will leverage its recently launched media platform, European Squash TV, to enable fans to directly support players, clubs and national squash federations through donations. This, according to the ESF, will be able to strengthen engagement with the squash community, strengthen grassroots development, promote talent and improve the European squash ecosystem.
ESF also holds out hope that the decision will help the federation, and squash as a whole, attract sponsorship deals and partnerships from the crypto industry. This, according to the ESF, will help strengthen the sport as it prepares for its long-awaited Olympic debut at the next Games in Los Angeles in 2028.
With this step, which ESF itself describes as bold, ESF wants to inspire other sports federations to explore new ways to leverage digital technology for the benefit of athletes, fans and the wider sports community.
