A lower-tiered Brazilian soccer team made their first signing using cryptocurrency with an Argentinian player. The transfer of midfielder Giuliano Galoppo from Banfield’s Athletic Club to Sao Paulo Futebol Clube was made in USD Coin (USDC), ranging from $6 to $8 mil, against the highly volatile Argentinian peso. The reported exchange gap between pesos and USD keeps getting worse, affecting the possibility for football players to get signed by international teams.
The cases for using crypto just keeps growing. Rampant inflation (more than what we are used to here in the US) around the world is pushing more and more people to start using deflationary currencies. My guess is in the next two years, we will see crypto payments to athletes as the norm, rather than the exception!