- Circle, issuer of USDC stablecoin, will sponsor Chelsea Football Club jerseys for the 2026/2027 season.
- The deal follows a warning from the UK’s Financial Conduct Authority (FCA) about “questionable sponsorship deals” with unauthorized crypto firms.
- Circle UK Trading Limited is FCA-authorized since 2018, but the stablecoin is not issued under UK law.
Circle, the issuer behind the USDC stablecoin, and Chelsea Football Club announced a jersey sponsorship deal on Friday for the 2026/2027 season. The partnership arrives roughly three months after the UK’s Financial Conduct Authority (FCA) sent warning letters to Premier League clubs concerning “questionable sponsorship deals with unauthorised financial firms,” including crypto companies.
The FCA’s director of consumer investments, Lucy Castledine, warned that “Millions of football fans trust their club’s badge” and that clubs should not let unauthorised firms exploit that loyalty. However, Circle UK Trading Limited has been FCA-authorized since 2018 to provide certain financial services to residents.
Consequently, while the stablecoin is legal to use in the UK, lawmakers are still crafting a comprehensive regulatory framework for digital assets. Notably, Circle stated that USDC “is not issued or regulated under the laws of the United Kingdom,” despite being issued by certain regulated affiliates. Cointelegraph reached out to Circle and the FCA for comment but did not receive an immediate response.
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