Circle's FCA license clears the way for USDC on Chelsea's shirt this season

Chelsea FC will wear USDC branding on its shirts this season after signing stablecoin issuer Circle as principal partner and front-of-shirt sponsor. The announcement came Friday, two months after Britain’s financial regulator told Premier League clubs to vet their crypto backers.

In June, the UK’s Financial Conduct Authority admonished Premier League and other clubs to weigh the financial crime and reputational risks of taking money from crypto companies that lack authorization.

Circle is on the right side of that line, with an FCA electronic money issuer license in the UK.

Brighton on Sunday is the shirt’s first outing

The men’s, women’s, and academy shirts will carry USDC and Circle logos through to the 2026/27 season, under a partnership announced by the club.

The first game is on Sunday, when the reigning FIFA Club World Cup champions take on their first home league game against Brighton and Hove Albion at the 40,000-capacity Stamford Bridge.

Chelsea began the campaign without a shirt sponsor and won 3-2 away at Fulham on Monday. Neither side put a dollar amount on the deal. The value and length were not disclosed.

“We built USDC on the belief that money should work seamlessly for everyone everywhere, the way the internet does,” Circle co-founder and CEO Jeremy Allaire said in the announcement.

“This partnership with Circle positions Chelsea at the forefront of football’s digital evolution,” said Chelsea FC President Jason Gannon.

Circle chief commercial officer Kash Razzaghi called the shirt placement a picture of “open, borderless” finance.

USDC has $73.3 billion in circulation and $14.8 trillion moved in a quarter

The placement is a sign of a sports marketing comeback for the wider industry after firms pulled back three years ago.

The venue formerly known as the Staples Center cost Crypto.com $700 million for 20 years of naming rights. Tezos reportedly shelled out £20 million a year for Manchester United’s training kit, while OKX teamed with Manchester City.

Circle is spending from a scale position. In its second quarter report on August 5, it reported USDC circulation of $73.3 billion, up 19% year over year, and on-chain transaction volume of $14.8 trillion.

USDC now makes up about a quarter of the dollar-stablecoin market, behind USDT’s dominance, with total dollar-pegged supply at $292.2 billion. USDC’s market cap has since risen to $73.8 billion, according to data from CoinGecko.

If you're reading this, you’re already ahead. Stay there with our newsletter.