Pretoria-based rugby franchise, Vodacom Bulls, have announced a three-year sponsorship deal with cryptocurrency investment platform Luno. The deal will see Bulls players receive performance incentives in crypto.
Luno was founded in 2013 by two South Africans, Marcus Swanepoel and Carel van Wyk. Today the company has more than 1000 employees and operates in over 40 countries with South Africa being one of its strongest and most active markets.
“Luno is focused on empowering people by building a new financial system which is more suited to the digital age. Like rugby, crypto can be unpredictable and volatile at times, but it is important to zoom out, stick to your game plan and think long term,” said Christo de Wit, Luno’s country manager for South Africa.
Vodacom Bulls CEO, Edgar Rathbone says the Luno partnership aligns with the team’s ambition to be the leading digital-savvy brand in South African rugby.
“Luno has an intrinsic understanding of what it means to have a competitive edge. As a trusted brand in the crypto financial industry, we are thrilled that Luno has decided to partner with the Vodacom Bulls,” Rathbone said.
According to Finder’s Cryptocurrency Adoption Index report, four million South Africans own cryptocurrency.
The crypto ownership rate in South Africa is 10%, lower than the global average of 15%. About 5% of those surveyed in the country say they own bitcoin (BTC), with 2% saying they own ethereum, 2% dogecoin, and another 1% own cardano.
Overall, South Africa ranked 18th out of 26 countries for crypto adoption, according to the report.
