3 minute read
Will become the first thoroughbred auction company to accept cryptocurrency as payment for equine purchases
Fasig-Tipton will become the first Thoroughbred auction company to accept cryptocurrency as payment for equine purchases. The company will offer the service at its upcoming 100th Saratoga Sale of selected yearlings, scheduled for August 9 and 10 in Saratoga Springs, New York.
To facilitate the payment of horses with cryptocurrency, Fasig-Tipton has partnered with Crypto.com, the world's fastest growing crypto app. Crypto.com Pay – the company's cryptocurrency payment solution for merchants – provides a secure payment platform for the world's estimated 220+ million crypto users.
Those that pay for yearlings with cryptocurrency at Saratoga will receive cryptocurrency rewards, courtesy of Swapp Protocol, the official Cryptocurrency Rewards Partner of the Saratoga Sale. The buyer of the most expensive horse paid for with cryptocurrency at the Saratoga Sale will receive 1 million SWAPP tokens, which are exchangeable for various fiat and cryptocurrencies.
Boyd Browning, President and Chief Executive Officer at Fasig-Tipton said: "As Fasig-Tipton approaches its 100th Saratoga Sale, we are excited to partner with Crypto.com and Swapp to offer cryptocurrency payment and rewards services at our flagship yearling sale. Crypto.com has established itself as a flagbearer of security and privacy in the crypto world and Swapp is a forward-thinking company making innovations in the world of data security and monetization. Fasig-Tipton aims to be a forward-thinking member of the Thoroughbred industry and we are proud to be the first Thoroughbred auction company in the world to embrace cryptocurrency. Through these partnerships we will introduce individuals and parties that participate in the crypto space to the exhilarating world of horse racing for the very first time, and growing our sport is a priority of the utmost importance at Fasig-Tipton."
Kris Marszalek, Co-Founder and CEO of Crypto.com said, "We feel very fortunate to have the support of Fasig-Tipton, one of the oldest and most respected brands in the horse auction industry. Our mission is to accelerate the world's transition to cryptocurrency, and we are excited to play a part in pioneering payment innovations in a century-old industry. Together with Fasig-Tipton, we have just taken a major step forward towards reaching our goal.
