Football club Gibraltar United will soon pay its players in cryptocurrency, though not in Bitcoin or any other established coins.
Gibraltar has its own football league, the Gibraltar Premier Division, which contains various semi-professional teams. One of them, Gibraltar United, will soon compensate players with Quantocoin – for which owner Pablo Dana is an investor.
Dana has been open about his hopes that cryptocurrencies might help eradicate financial corruption in the football world.
He said: “Gibraltar was the first [place that] regulated betting companies 20 years back, when everyone was seeing them as horrible. They put compliance and anti-money laundering regulations and created a platform – they have the intelligence to do the same with cryptocurrencies.”
The coin will be used to pay wages and certain expenses, though fiat will still be used elsewhere.