Aston Martin claimed a Formula One first on Friday in announcing a multi-year sponsorship with Coinbase paid entirely in cryptocurrency.

Aston Martin Aramco Formula One Team inked a multi-year deal with Coinbase today, and every single dollar of it was paid in USDC—a first for Formula One. No banks, no fiat, just crypto on-chain. The motorsport team announced that Coinbase is now its Official Crypto Partner.

Coinbase partners with Aston Martin F1, with the entire sponsorship payment made in USDC, marking a first for Formula 1.

Aston Martin’s Formula One team will sport Coinbase branding this season, with the deal uniquely paid entirely in USDC.

Coinbase has inked a partnership deal with Aston Martin Aramco Formula One as it ventures into the sports racing game.

More and more F1 teams are sponsored by partners who are involved in the world of 'crypto'. Recently Aston Martin have teamed up with Coinbase as well. What sets that deal apart from the rest? The Silverstone-based team will only be paid in crpytocurrencies.