Aston Martin F1 partners with Coinbase
Aston Martin F1 partners with Coinbase in a multi-year deal transacted entirely in USDC.
Aston Martin Aramco Formula One Team has inked a multi-year deal with Coinbase, marking a first in motorsports by transacting the entire agreement in USDC.
The partnership, announced today, signals a new era in how digital assets are integrated into traditional finance and high-profile sporting events, reports Cryptopolitan.
Crypto on the Track
Under the new deal, Coinbase is now the Official Crypto Partner for the Aston Martin F1 team. The arrangement will see Coinbase branding prominently displayed on the AMR25 race car—including the halo and rear-wing end plates—and on the racing suits of drivers Fernando Alonso and Lance Stroll.
Jefferson Slack, Managing Director of Commercial at Aston Martin Aramco F1, praised the partnership: “This partnership shows the trust and confidence we place in Coinbase’s expertise as a leader in digital finance. By transacting this deal fully in USDC, we’re signaling our commitment to innovation, building a sustainable, forward-thinking relationship with Coinbase.”
Record Earnings Fuel Crypto Ambitions
Coinbase, which has recently reported its highest quarterly revenue in three years, is riding a wave of record-breaking performance. The company posted $2.27 billion in revenue—surpassing analyst expectations of $1.88 billion—with earnings per share reaching $4.68, well above the $1.81 forecast. Its net income jumped to $1.3 billion from $273 million the previous year, and total trading volume soared to $439 billion, up 185% year-over-year. These impressive figures, coupled with significant increases in both consumer and institutional trading volumes, underscore Coinbase’s strategic momentum in the digital asset space.
Pushing for Stablecoin Dominance
Coinbase is aggressively promoting USDC, with CEO Brian Armstrong stating, “Our stretch goal is to make USDC the number one stablecoin.” Currently, USDC holds 26% of the stablecoin market compared to Tether’s 67%. With regulatory progress on the horizon and growing institutional adoption—fueled in part by the launch of Bitcoin ETFs and a pro-crypto U.S. administration—Coinbase expects USDC to play a pivotal role in its future growth. The company is expanding its stablecoin trading pairs and payment ecosystems, aiming to drive both revenue and market share in the evolving crypto landscape.
Recently we wrote, that a pivotal moment is approaching in the ongoing legal battle between Coinbase and the U.S. Securities and Exchange Commission (SEC).
