Canada is not normally a country known for cryptocurrencies and basketball
Canada is not normally a country known for cryptocurrency and basketball. However, the latest development is capable of changing that. The Canadian Elite Basketball League (CEBL) becomes the first professional sports league in North America to adopt Bitcoin (BTC) as a payment method for player salaries.
The move is part of a league partnership with Canadian crypto platform Bitbuy, which will process the transactions.
CEBL CEO Mike Morreale said:
“Innovation and delivering a new basketball experience has been the driving force behind us creating one of the world’s most recognized professional basketball leagues.
Some of the best players outside of the NBA and some with NBA experience decided to join our league because we made player-focused decisions. Our partnership with Bitbuy expresses our commitment to gamers, as well as our forward-looking approach to how we run our business. We appreciate Bitbuy’s investment in helping us further grow Canada’s official national professional basketball league.”
Players Can Prefer Bitcoin
With this decision, players will allow the option to accept some of their salary in Bitcoin . BitBuy will then work with the league to convert Canadian dollars to Bitcoin and payments will be forwarded to players’ wallets. BitBuy will also be the league sponsor.
The adoption of cryptocurrencies in the sports industry continues to increase.