THOROLD, ON, June 17, 2021 / CNW / – The Canadian Elite Basketball League (CEBL) announced Thursday it has partnered with Bitbuy, a leading Canadian cryptocurrency platform, which will allow the league to pay players a portion of their salaries in Bitcoin. This partnership will be the first of its kind for a professional sports league in North America and comes as the league prepares to enter its third season June 24.
“Innovation and offering a new basketball experience has been the driving force behind our creation of one of the most recognized professional basketball leagues in the world,” said Mike Morreale, Commissioner and CEO of CEBL. “Some of the best players outside of the NBA, and some with NBA experience, have joined our league because we make priority decisions. Our partnership with Bitbuy is a testament to our commitment to players, as well as our forward approach. – guardian of how we go about our business. We appreciate Bitbuy’s investment in helping us continue to grow from Canada official national professional basketball league. “
CEBL players will be able to choose to receive part of their salary which will be paid to them in Bitcoin. Bitbuy will work with CEBL to convert players ‘Canadian dollar salaries to Bitcoin and help deliver Bitcoin to players’ personal cryptocurrency wallets.
Bitbuy, from Canada The most trusted cryptocurrency platform, with over 300,000 Canadian users, will also sign up as a league sponsor as part of the partnership.
“We are proud to support local Canadian sports and to partner with the league on this first-to-market initiative. We believe this represents a significant shift in the way athletes view compensation, and we’re excited to help CEBL players protect their long-term wealth by getting paid in Bitcoin, ”said Charlie aikenhead, vice-president of marketing at Bitbuy.
The partnership formed after players expressed interest in leading the league, after NFL’s Russell Okung became the first North American professional sports player to be paid in Bitcoin last year.
Kimbal mackenzie, a Guelph Nighthawks goalie, will be one of the first players to enter the program.
“The possibility of getting paid in Bitcoin is something that excites me enormously. I believe cryptocurrency is the future,” Mackenzie said. “The ability to direct part of my salary directly to an investment which I believe will be greatly appreciated over the next 10 to 30 years is a given. The CEBL continues to provide us as players with cutting edge opportunities and the option to get paid in Bitcoin further emphasizes that they are one of the best leagues in the world. “
Bitcoin’s value has risen by over 265% in the past year as individuals and businesses have started buying the asset to protect against rapid inflation and uncertain global economic conditions. Bitcoin is a deflationary and sustainable asset by nature and has historically significantly outperformed the S&P 500 and other traditional long-term investments.
About the Canadian Elite Basketball League (CEBL)
A league created by Canadians for Canadians, the CEBL has the highest percentage of Canadian players of any professional league in the country, with 80% of its 2020 rosters being Canadians. Players come from the NBA G League, top international professional leagues, the Canadian National Team program, and top NCAA and U SPORTS programs. It uses the rules of the FIBA (International Basketball Federation) and the standards for players and referees established by its partner, Canada Basketball. CEBL became the first professional basketball league in the world to use Elam Ending in FIBA competition, when it incorporated the innovative conclusion into all of its matches during the 2020 season. CEBL Summer Series.
Bitbuy Technologies Inc is a Canadian owned and operated cryptocurrency company. The company’s mission is to provide convenient, reliable and secure access to bitcoin and other digital currencies. Bitbuy currently operates out of the city center Toronto and is registered with FINTRAC as a Money Services Business in the Virtual Asset Service Provider category. Bitbuy was founded in 2016 and is currently one of the from Canada largest cryptocurrency platforms by transaction volume.
SOURCE Canadian Elite Basketball League
For further information: Ansh Sanyal, Director, Brand & Marketing, [email protected]; Charlie Aikenhead, VP Marketing, [email protected]