Canada may not be known for crypto or basketball, but recent news could change that. The Canadian Elite Basketball League (CEBL) becomes the first professional sports league in North America to adopt bitcoin as a method of paying player salaries.

The move is part of a league partnership with Canadian crypto platform Bitbuy, which will process the transactions.

Just in time for Tipoff

The CEBL is about to announce its third season this week. Timing makes the recent Press release an exciting season launch for Canadian basketball fans.

“Innovation and providing a new basketball experience has been the driving force behind our creation of one of the world’s most recognized professional basketball leagues,” said Commissioner and CEO of CEBL, Mike Morreale. “Some of the best players outside of the NBA, and some with NBA experience, have joined our league because we make player-priority decisions. Our partnership with Bitbuy is a testament to our commitment to players, as well as our approach. forward-thinking in the way we do business. We appreciate Bitbuy’s investment in helping us further develop Canada’s official national professional basketball league, “added Morreale.

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Beyond the CEBL: what it means

Bitbuy serves over 300,000 Canadian users and will seek to leverage this partnership to build on that user base. As part of the press release, CEBL goalkeeper Kimbal Mackenzie said he would be one of the first to sign up. Mackenzie said that “the opportunity to get paid in bitcoin is something that excites me enormously. I believe cryptocurrency is the future ”.

The partnership was boosted by the player’s vocal support for the league leadership. It also follows an extensive engagement of teams, leagues and players globally in the crypto arena. Notable NFL athletes like Russell Okung and NBA teams like the Golden State Warriors and Milwaukee Bucks have made headlines with the crypto engagement.

Bitcoin is still garnering major league attraction. | Source: BTC-USD on TradingView.com

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BitBuy & CEBL: The execution

League players will have the option to “register” so that part of their salary is paid in bitcoin. BitBuy will then work with the league to convert CAD to BTC and deliver payments to player wallets. BitBuy will also sign as a league sponsor.

“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 being paid in bitcoin, ”said Charlie Aikenhead, vice -President of Marketing of BitBuy.

Adoption in sports continues to be a major area of ​​crypto growth. While esports continues to be a hot topic for crypto partners, the traditional batting and ball sport continues to see established partners come to life as well.

Featured image from Pixabay, Charts from TradingView.com