Plus500, an Israeli forex and CFD broker, has joined a four-year cooperation agreement with the Chicago Bulls, a specialist basketball group from the United States.
The trader’s first endorsement of a US athletics team follows the conclusion of a seven-year agreement with the Spanish soccer team Atletico Madrid. Football teams sponsored by Plus500 involve Switzerland’s BSC Young Boys, Poland’s Legia Warsaw, and Italy’s Atalanta B.CL.
In a declaration issued on Monday, leader David Zruia asserted that the partnership with Chicago Bulls would help the trader drive awareness of the brand in the United States.
The transaction, according to Zruia, is an aspect of the firm’s attempt to broaden its worldwide product portfolio and expand its inclusion in this substantial and exhilarating market.
The four-year collaboration, according to Plus500, would include various marketing components, community proposals, social media posts, occurrences, and much more to push brand consciousness and create the fundamental complementarities that both products share: innovation, heritage, and success.
It’ll also highlight Plus500’s plans to expand its global reach into new markets, the Group’s correlation with Chicago, the soul of the US investments sector, and the location of Plus500’s US processes.
Trusting the US
Plus500 revealed a five-year strategy last September to accomplish a $500M accumulative annualized revenue target. This strategy will be motivated, along with other factors, by the firm’s growth into new territories, like the United States, which resulted in a 48% increase in half-year 2022 income.
Plus500 clarified in its Monday declaration that its successful introduction of TradeSniper, a derivative trading framework specially developed and customized for active traders in the United States, as well as the provision of stockbroking implementation and emptying services, are convincing evidence of its trust in the US industries and resource devotion.
Plus500 also announced that it has become a full unloading participant of the Chicago Mercantile Exchange, bolstering its stance in the US financial markets and that the team has been working to broaden its settlement functionality with other transactions worldwide futures contracts.
The new contract is an aspect of Plus500’s venture into the United States market, but it is unclear whether the goal is to ultimately launch a first public sale on the American trading floor, NASDAQ.
In the meantime, YouHodler, a Swiss company that offers crypto-backed lending, signed a two-year crypto cooperation agreement with Torino, an Italian soccer club, the other week. Torino’s first transaction with a cryptocurrency firm.