Formula 1 has announced Crypto.com, a crypto platform with more than 10 million users worldwide, as a global partner and inaugural partner of the new Sprint series for 2021, with the first event at Silverstone on July 17, ahead of the Formula 1 Pirelli British Grand Prix 2021.

CAA Sports helped facilitate this partnership through its global representation of F1.

"We are pleased to welcome Crypto.com to the Formula 1 family, as we continue to attract progressive global brands anchored in performance and innovation," says Stefano Domenicali, president, chief executive officer, Formula 1.

"We are thrilled to announce Crypto.com as a global partner and lead partner of the Sprint event as we bring this exciting new format to fans for the first time this year," says Ben Pincus, director, commercial partnerships, Formula 1. "We will rely heavily on their expertise as we explore the world of cryptocurrency, an area we are very interested in, and this will be the first time as a sport we can offer fans the opportunity to explore this exciting world as we further increase our digital presence. Crypto.com are revered in the industry and their experience was key in the decision to partner with them, as well as the company's commitment to becoming carbon negative, as we continue to move towards sustainability goals of our own."

"We are extremely proud to be the first cryptocurrency sponsor of Formula 1, joining a prestigious collection of brands supporting a sport with technology and innovation at its core," says Kris Marszalek, co-founder and chief executive officer, Crypto.com. "We look forward to many years of innovating together and will begin at the Belgian Grand Prix where we will present a brand new award. We're also excited to partner with F1 in the development of exclusive NFTs, connecting fans to the sport in new and innovative ways."

Crypto.com will also have a trackside presence at every race for the remainder of the season as part of a global partnership deal with Formula 1.