Global cryptocurrency FuturoCoin (FTO) has agreed a two-year deal to partner Formula One’s Aston Martin Red Bull Racing (RBR) team.

The partnership, which will cover the 2019 and 2020 F1 seasons, was co-brokered by WH Sports Group and CAA Sports and marks the first time a cryptocurrency has sponsored a team in Formula One. As part of the agreement, FuturoCoin branding will be featured on the Aston Martin Red Bull Racing RB15 F1 cars. Motor racing fans will catch a glimpse of the branding once the 2019 Formula One season gets underway with the Australian Grand Prix in March.

RBR drivers Max Verstappen and Pierre Gasly will also sport the company’s logo on overalls, as will the team’s transporter vehicles. FuturoCoin, a decentralized cryptocurrency based on open source code, was founded in 2017 by Roman Ziemian and Stephan Morgenstern. A contributing factor in the deal with RBR was believed to be driven by Ziemian’s passion for motorsport.

Commenting on the partnership, Ziemian’s said: “I’m a huge fan of motorsport and F1 has always intrigued me. Cryptocurrencies and Formula One are very similar and their values are much alike, speed, technology and being ahead of their time. The sponsorship is an exciting new chapter for our company and will be a global platform for us to drive awareness of FuturoCoin.

Christian Horner, Aston Martin Red Bull Racing Team Principal, (pictured above, right) added: “In recent years, the rise of blockchain technology and cryptocurrencies has been truly remarkable, and we’re delighted to be the first Formula One team to embrace this, through our partnership with FuturoCoin. Secure digital currencies are on the leading edge of technological development and we are very excited to be part of this revolution.”