The Canadian Elite Basketball League (CEBL) announced today that It’s entered into a partnership with Bitbuy, a leading Canadian cryptocurrency platform, which will enable the league to pay players a part of their salaries in Bitcoin. The partnership is going to be the first of its kind for any professional sports team in North America and comes as the league is set to tip off its third period June 24.
“Innovation and delivering a new basketball experience have been a Driving force behind our creation of a few of the world’s most broadly recognized pro soccer leagues,” explained Mike Morreale, Commissioner and CEO of the CEBL. “A few of the best players beyond the NBA, and a few with NBA experience, have joined our league since we make player-first decisions. Our partnership with Bitbuy speaks to our commitment to gamers, and also to our forward-thinking approach to the way we go about our business. We appreciate Bitbuy’s investment in assisting us further grow Canada’s official national professional basketball team.”
The CEBL’s gamers Will Have the Ability to opt-in to receive a portion of Their wages paid to them in Bitcoin. Bitbuy will work together with the CEBL to convert the gamers Canadian dollar salaries into Bitcoin and help in bringing Bitcoin to the players’ personal cryptocurrency wallets.
Bitbuy, Canada’s most dependable Cryptocurrency system, with over 300,000 Canadian customers, are also registering as a league sponsor as part of their partnership.
“We are proud to support Canadian sports, also to partner With the league with this very first to market initiative. We think this represents a significant shift in the athletes are thinking about reimbursement, and we are eager to assist the CEBL’s players shield their long-term wealth by becoming paid in Bitcoin,” said Charlie Aikenhead, VP Marketing in Bitbuy.
The partnership came together after curiosity was voiced by gamers to League management, following the NFL’s Russell Okung became the first North American Professional sports player to be paid in Bitcoin, last year.
Kimbal Mackenzie, a protector for its Guelph Nighthawks, will be among the first players to opt-in to the program.
“The opportunity to be paid in Bitcoin is something I am incredibly excited about. I think cryptocurrency is the long run,” Mackenzie said. “The capability to have part of my wages go directly into an investment that I believe will appreciate greatly over the next 10-30 years is a no-brainer. The CEBL proceeds to provide us as gamers with forward-thinking chances, and the choice to be compensated in Bitcoin further highlights they are among the highest leagues in the world.”
Bitcoin’s value has increased more than 265% from the past year as People and companies have begun purchasing the advantage to safeguard against rapid inflation and uncertain international economic conditions. Bitcoin is a deflationary, challenging advantage by character and has greatly outperformed the S&P 500 along with other traditional long-term investments.
About Canadian Elite Basketball League (CEBL)A League made by Canadians for Canadians, the CEBL has the highest percentage of Canadian gamers of almost any professional league in the country, with 80 percent of its 2020 rosters being Canadians. Players come from the NBA G League, leading global pro leagues, the Canadian National team program, and top NCAA and U SPORTS applications. It utilizes FIBA (International Basketball Federation) rules, and player and referee criteria set by its spouse, Canada Basketball. The CEBL became the first professional basketball league in the world to use the Elam Ending in FIBA contest, when it incorporated the revolutionary conclusion into all its games throughout the 2020 CEBL Summer Series.
The organization’s mission is to provide convenient, reliable and safe access to bitcoin along with other electronic currencies. Bitbuy currently operates from downtown Toronto and is registered with FINTRAC as a Money Services Business under the Virtual Asset Service Provider category. Bitbuy was founded in 2016 and is currently one of Canada’s largest cryptocurrency platforms by trading volume.