Oracle Red Bull Racing is pleased to announce its partnership with leading cryptocurrency exchange Bybit. In this way, and thanks to a multi-year agreement, Bybit will become the main partner of the Formula 1 team.
Founded in March 2018, the bitcoin and token exchange has grown exponentially, now boasting more than six million registered users worldwide. As part of the new deal, Bybit will also be Exclusive Cryptocurrency Exchange Partner of Oracle Red Bull Racing.
Bybit and Oracle Red Bull Racing together in the race for technological development
The partnership will help fulfill Oracle Red Bull Racing’s mission of increasing fan participation and engagement, with Bybit assuming the role of Fan Token Issuance Partner and Tech Incubator Partner. This will see the exchange not only support the team with the distribution of their digital asset collections, but also in promoting STEM careers and introducing coding to new audiences.
Bybit’s core ethos is to support innovation, talent and technological development that aligns with the goals of Oracle Red Bull Racing, as the team expands its Red Bull Technology Campus at Milton Keynes. The sponsorship will be paid in cash and BIT, BitDAO’s native governance token.
BitDAO is one of the largest Decentralized Autonomous Organizations (DAO) in the world and supports developers in the decentralized economy. It allows BIT token holders to vote on proposals to foster technologies that introduce entirely new ways for users to work, engage and transact fairly.
An alliance that benefits everyone
“I am delighted to welcome Bybit to our team. It is also fitting that as we enter a new generation of F1 competition in 2022, with an advanced and potentially revolutionary new philosophy of cars taking to the track, Bybit is also at the forefront of technology.
They share the team’s passion for being at the forefront of technological innovation, setting the competitive pace and disrupting the status quo. Coupled with this is Bybit’s commitment to animating the F1 fan experience through digital innovation. This is also a key mission for the Team and Bybit’s support will help us build a deeper, more immersive and unique connection with the Team for fans around the world.”
Christian Horner, CEO of Oracle Red Bull Racing Team
“The relentless passion and fearless resilience of Oracle Red Bull Racing inspire us. The team has changed the game in the same way that digital assets have changed the global financial system. […] Bybit has found its soul mate and the perfect harmony of speed, security and reliability is all that our users are looking for in our platform. A moment on the track is possible thanks to the tireless work to perfect the chassis, the engine, the craftsmanship and the drivers’ search for precision and concentration in a game full of adrenaline.”
Ben Zhou, co-founder and CEO of Bybit
About Bybit Exchange
Bybit is a bitcoin and digital asset exchange founded in March 2018 to offer a professional platform where traders can find a lightning fast matching engine, excellent customer service and multilingual support.
The company provides innovative services of spot trading and trading of derivatives online, mining products and stake, as well as API support to retail and institutional clients around the world. Bybit strives to be the most trusted exchange for the emerging digital asset class. In addition to Oracle Red Bull Racing, Bybit sponsors teams from e sports such as NAVI, Alliance, Astralis and Virtus.pro, as well as the German soccer club Borussia Dortmund and the Japanese club Avispa Fukuoka.
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For more information, visit the Bybit’s website and their social networks: Facebook, Instagram, Twitter, Telegram and Youtube.
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