Circle, the issuer of the USDC stablecoin, will become the new sponsor of the football club “Chelsea” just a few months after the British financial regulator warned about “questionable sponsorship agreements with unauthorized financial companies,” including crypto companies.
In a Friday announcement, Circle said its name and USDC would appear on the jerseys of FC “Chelsea” players in the 2026/2027 season. The partnership agreement between the football club and a company working with digital assets was reached about three months after the UK Financial Conduct Authority (FCA) said it had sent warning letters to Premier League clubs, which potentially included “Chelsea”.
The letters referred to “unauthorized” companies, including crypto businesses, that use sponsorship agreements to attract football fans, which could potentially violate UK financial services legislation.
“Millions of football fans trust their club’s emblem,” said Lucy Karsdine, FCA Director of Investments for Consumers. “Clubs must not allow unauthorized financial companies to exploit this loyalty and offer potentially questionable products to millions of fans.”
Circle UK Trading Limited, the company’s British subsidiary, has been listed since 2018 among the companies authorized by the FCA to provide certain financial services to residents. Stablecoins such as USDC are also permitted for use in the country, although lawmakers are working on creating a comprehensive regulatory framework for digital assets.
Notably, although Circle said that USDC was “issued by certain regulated affiliated entities,” the stablecoin “was not issued or regulated under UK law.” Cointelegraph reached out to Circle and the FCA for comments but did not receive an immediate response.
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