Chelsea FC Signs Circle as Stablecoin Sponsor After UK FCA Warning to Football Clubs
Key Takeaways
- •Circle and Chelsea FC have struck a sponsorship deal under which Circle's name and USDC will appear on player jerseys during the 2026/2027 season.
- •The partnership was announced about three months after the FCA sent warning letters to Premier League clubs about sponsorship deals involving unauthorized financial firms, including crypto companies.
- •Circle UK Trading Limited has been authorized by the FCA to provide certain financial services to UK residents since 2018.
- •USDC is legal to use in the UK but is not issued or regulated under UK law, and the FCA will begin enforcing new standards for stablecoin issuers in October 2027.
- •Circle said the deal is about building its brand image and is not a financial promotion, while the FCA declined to comment.
Update (Aug. 28, 8:30 pm UTC): This article has been updated to include information about the FCA's oversight of stablecoins.
Update (Aug. 29, 12:00 pm UTC): This article has been updated to include a statement from Circle.
Circle, the issuer behind the USDC stablecoin, will become the latest sponsor of Chelsea Football Club, just months after the UK's financial watchdog warned clubs about "questionable sponsorship deals with unauthorized financial firms," including crypto companies.
In a Friday announcement (press release), Circle said its name and USDC would appear on Chelsea FC players' jerseys during the 2026/2027 season. The partnership between the football club and the digital asset company was struck roughly three months after the UK's Financial Conduct Authority (FCA) said it had sent warning letters to Premier League clubs, potentially including Chelsea.
The letters concerned "unauthorized" companies, including crypto businesses, using sponsorship deals to target football fans in ways that could breach UK financial services laws. Circle UK Trading Limited, Circle's UK arm, has been listed as a company authorized by the FCA to provide certain financial services to residents since 2018.
Stablecoins such as USDC are also legal to use in the United Kingdom, although lawmakers are still working to establish a comprehensive regulatory framework for digital assets. The FCA is set to begin enforcing new standards on digital asset companies, including stablecoin issuers, in October 2027.
Sports sponsorships have become a prominent marketing channel for crypto firms seeking mainstream visibility, and high-profile club deals have drawn regulatory scrutiny in the UK before, with the FCA's letters underscoring its concern that fan audiences could be exposed to financial promotions that fall outside authorized channels.
Notably, while Circle said USDC was "issued by certain regulated affiliates," the stablecoin was "not issued or regulated under the laws of the United Kingdom." An FCA spokesperson declined to comment on the sponsorship. A Circle spokesperson told Cointelegraph that the deal "is about building brand image not a financial promotion."
Related: UK government reports 240 crypto millionaires in 2025
