Fasig-Tipton the first thoroughbred sales company to accept cryptocurrency

Fasig-Tipton will become the first thoroughbred sales company to accept cryptocurrency as payment for equine purchases, with the upcoming Saratoga Sale the first auction to accept the service.

The auction house has partnered with Crypto.com, the world’s fastest growing crypto app which provides a secure payment platform for around 220 million crypto users around the world.

Those who pay for yearlings with cryptocurrency at Saratoga from August 9-10 will receive cryptocurrency rewards, courtesy of Swapp Protocol, the official Cryptocurrency Rewards Partner of the Saratoga Sale.

The buyer of the top-priced horse paid with cryptocurrency at will receive one million SWAPP tokens, which are exchangeable for various fiat and cryptocurrencies.

Boyd Browning, President and chief executive of Fasig-Tipton commented: “As Fasig-Tipton approaches its 100th Saratoga Sale, we are excited to partner with Crypto.com and Swapp to offer cryptocurrency payment and rewards services at our flagship yearling sale.

"Crypto.com has established itself as a flagbearer of security and privacy in the crypto world and Swapp is a forward-thinking company making innovations in the world of data security and monetisation.

"Fasig-Tipton aims to be a forward-thinking member of the thoroughbred industry and we are proud to be the first thoroughbred auction company in the world to embrace cryptocurrency. Through these partnerships we will introduce individuals and parties that participate in the crypto space to the exhilarating world of racing for the very first time, and growing our sport is a priority of the utmost importance at Fasig-Tipton.”

Kris Marszalek, co-founder and CEO of Crypto.com added: “We feel very fortunate to have the support of Fasig-Tipton, one of the oldest and most respected brands in the horse auction industry.

"Our mission is to accelerate the world’s transition to cryptocurrency, and we are excited to play a part in pioneering payment innovations in a century-old industry. Together with Fasig-Tipton, we have just taken a major step forward towards reaching our goal."

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