- Cassill will be paid in Litecoin and Bitcoin
- Xfinity Series driver allowed to trade crypto holding straight away
Nascar Xfinity Series driver Landon Cassill will be the first driver in the championship to be paid in cryptocurrency as part of a deal with Voyager.
The partnership, set to begin at the Nashville Superspeedway event, will span 19 races. Across the length of the contract, Voyager will pay Cassill a "market rate" in a "portfolio of digital assets", which include Litecoin and Bitcoin.
"I can trade it out right away before the market changes or hang on to it as the market goes up or goes down, carve out a little bit, pay my bills with it and hold the rest," Cassill told the Associated Press.
"There’s a handful of drivers that are into crypto, but I’m probably one that’s been in it for long enough that’s I’m pretty comfortable with how it works.
"Crypto platforms use a lot of social media and community building as marketing. The big companies haven’t done a lot of national ad campaigns, so for Voyager to go after a national ad campaign is a sign that the space is really starting to branch out."
Steve Ehrlich, Voyager's chief executive, added: "[Landon] shares our vision of widespread crypto adoption, and we’re proud to be the first company to secure a primary Nascar sponsorship completely with crypto."
The cryptocurrency market is beginning to gain traction in motorsport. Recently, Rinus VeeKay ran a Bitcoin-sponsored car in the Indianapolis 500. Afterwards, VeeKay was joined by IndyCar drivers Conor Daly and Ed Carpenter at a Bitcoin convention.