Circle, the issuer of the $USDC stablecoin, will become the new sponsor of Chelsea Football Club just months after the UK financial regulator warned of "questionable sponsorship deals with unauthorized financial companies," including crypto firms.
In an announcement on Friday, Circle stated that its name and $USDC will appear on Chelsea FC players' jerseys for the 2026/2027 season. The partnership agreement between the football club and the digital asset firm was reached approximately three months after the UK's Financial Conduct Authority (FCA) stated that it had sent warning letters to Premier League clubs, potentially including Chelsea.
The letters addressed "unauthorized" companies, including crypto businesses, which use sponsorship deals to target football fans, potentially breaching UK financial services legislation.
"Millions of football fans trust their club's badge," said Lucy Castledine, FCA's Director of Consumer Investments. "Clubs should not allow unauthorized financial companies to take advantage of this loyalty and offer potentially questionable products to millions of supporters."
Circle UK Trading Limited, the company's UK subsidiary, has been listed on the FCA's authorized register since 2018 to provide certain financial services to UK residents. Stablecoins like $USDC are also permitted for use in the country, although lawmakers are working on establishing a comprehensive regulatory framework for digital assets.
Notably, while Circle stated that $USDC is "issued by certain regulated affiliated entities," the stablecoin is "not issued and regulated under UK law." Cointelegraph reached out to Circle and the FCA for comment but did not receive an immediate response.
Related: UK Government Reports 240 Crypto Millionaires in 2025
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