The Haas Formula One team have agreed a deal with cryptocurrency exchange Zoomex.
Contract:
- Zoomex becomes Haas’ official crypto exchange partner
- The pair will collaborate on fan engagement experiences, VIP race access, and crypto trading rewards
Context:
This is not Zoomex’s first involvement in racing as it has supported the career of Oliver Bearman since 2023, who will make his full-time debut in Formula One this season with Haas. This follows the return of other crypto partners in Formula One, with Red Bull and Aston Martin recently agreeing deals with Gate.io and Coinbase, respectively.
Crypto partnerships rapidly increased in popularity from 2020 and, by 2021, nine of the ten Formula One teams had an official crypto partner. The fallout from the FTX bankruptcy scandal, who at the time had a partnership with Mercedes, saw a downturn in partnerships. Now, though, only three teams are without a crypto partner.
Mercedes have not dipped their toe back into the crypto sector since being burned by FTX, while Ferrari dropped Velas ahead of the 2023 season. Racing Bulls are the third team to currently be without a sponsor in this category. Formula One signed a five-year extension in December to its partnership with Crypto.com, which is worth a reported US$20 million per season.
Comment:
“We’re thrilled to welcome Zoomex to the MoneyGram Haas F1 Team,” said Ayao Komatsu, team principal
of Haas.
“Both Formula One and crypto trading operate at the cutting edge of technology and this partnership is a great fit. Zoomex’s commitment to innovation, and their long-time support of Ollie, aligns perfectly with our own drive for excellence on and off the track.
“We’re excited to introduce our fans to the dynamic world of crypto trading through Zoomex’s platform.”
Coming next:
Zoomex branding will feature on the barge-boards and nose of the Haas car, as well as driver racesuits and apparel, from this weekend’s season-opening Australian Grand Prix.
Go deeper:
- Breaking down F1’s sponsorship portfolio ahead of the 2025 season
- Where is the next new F1 race going to happen?
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