Circle, the issuer behind the USDC stablecoin, will be the latest sponsor for the Chelsea football club just months after the UK’s financial watchdog warned of “questionable sponsorship deals with unauthorized financial entities”, including crypto companies.
A Friday announcement, circle said Its name and USDC will appear on Chelsea FC players’ jerseys in the 2026/2027 season. The partnership agreement between the football club and the digital assets company came nearly three months after the UK’s Financial Conduct Authority (FCA). said It sent warning letters to Premier League clubs, including potentially Chelsea.
The letters allege “unauthorised” companies, including crypto businesses, use sponsorship deals to target football fans, potentially breaching the UK’s Financial Services Act.
“Millions of football fans trust their club badges,” said FCA’s director of consumer investment, Lucy Castledine. “Clubs should not allow unauthorized financial firms to exploit that loyalty by putting potentially unreasonable products in front of millions of fans.”
Circle UK Trading Limited, the company’s UK arm, has been listed as a company authorized under the FCA to provide certain financial services to residents since 2018. Stablecoins like USDC are also legal for use in the country, although lawmakers are working to establish a comprehensive regulatory framework for the digital asset.
Notably, although Circle said USDC was “issued by certain regulated affiliates,” the stablecoin was “neither issued nor regulated under the laws of the United Kingdom.” Cointelegraph reached out to Circle and the FCA for comment but did not receive an immediate response.
Related: UK government reports 240 crypto millionaires by 2025
