Formula E and Copper agree digital asset services deal

Partnership reportedly marks series' most lucrative since start of Covid-19 pandemic.

Formula E and Copper agree digital asset services deal

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  • Copper to receive trackside branding at races
  • Digital asset brand to take on role of 'official digital asset services partner'

Electric single seater series Formula E has secured a new multi-year partnership with trading solutions provider Copper.

As part of the deal, Copper will take on the role of 'official digital asset services partner' from the upcoming Diriyah ePrix on 28th January.

In addition, Copper will have trackside branding at Formula E races and the pair will collaborate in the digital asset space.

According to SportBusiness, the partnership is the most lucrative that Formula E has signed since the start of the Covid-19 pandemic took hold in early 2020.

This partnership announcement comes after Formula E secured an extension to its long-running deal with logistics firm DHL.

Jamie Reigle, chief executive of Formula E, said: "The international growth of our sport during the past seven seasons mirrors Copper’s formidable progress since it was founded less than four years ago.

"Both Formula E and Copper are successfully challenging convention and we share a passion for the potential of innovation and technology to redefine the future of our industries.

"We look forward to collaborating with Copper’s team to create special experiences for our fans and to showcase the digital asset technology they have built, with a tenacity for progress that mirrors our own."

Dmitry Tokarev, chief executive at Copper, added: "With every race, Formula E showcases the forefront of technological innovation in motor racing and electric mobility. Copper is doing the same, providing technical innovation for the next generation of assets and trading.

"We want everyone to benefit from the market-leading tech we have built as digital assets, and the diverse applications of the underlying blockchain technology, take their place in the mainstream."

Elsewhere in Formula E, the series has agreed a partnership with Saudi Arabian national energy services company Tarshid for the Diriyah ePrix.

The agreement will see Tarshid run a case study on the low-power LED lighting used to illuminate the street circuit for the race, as part of its efforts to reduce electrical power consumption in Saudi Arabia.

Diriyah hosts the only night race on the Formula E calendar and made history in 2018 as the first international motorsport event to be held in Saudi Arabia.