Florida signs a multiyear deal with Ripple that includes cryptocurrency logos in the Swamp

Florida signs a multiyear deal with Ripple that includes cryptocurrency logos in the Swamp

Florida announced a multiyear sponsorship deal with Ripple on Friday that will generate $5 million annually by placing field logos in the Swamp, according to a person with knowledge of the negotiations.

The person spoke to The Associated Press on condition of anonymity because neither side disclosed financial terms.

Ripple is a provider of blockchain solutions across traditional and digital finance. The deal will place XRP logos on Florida Field beginning with Saturday's game against Florida Atlantic. XRP is a cryptocurrency designed to move money in seconds, at a fraction of the cost of traditional banking.

“Florida has a long history of embracing innovation and technology to enhance the experience of our fans and advance our programs,” athletic director Scott Stricklin said in a statement. "This partnership brings together two organizations that think boldly about the future, and we look forward to introducing XRP to our fans.”

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