Circle USDC Becomes Chelsea FC Jersey Sponsor Despite FCA Warning

Circle, the issuer behind the USDC stablecoin, has signed a sponsorship deal with Chelsea Football Club that will place its branding on the front of the Premier League team's jerseys for the 2026/2027 season. The partnership, announced on Friday, comes roughly three months after the UK's Financial Conduct Authority (FCA) issued warning letters to Premier League clubs about unauthorized crypto firms using sponsorship deals to target football fans in ways that may breach UK financial services laws.

FCA Director of Consumer Investments Lucy Castledine had cautioned that "millions of football fans trust their club's badge" and warned that "clubs should not let unauthorised financial firms exploit that loyalty by putting potentially dodgy products in front of millions of fans." The regulator's letters targeted companies operating without proper authorization, including several crypto businesses that had pursued sponsorship arrangements with top-flight English football clubs — a category potentially encompassing Chelsea.

Circle UK Trading Limited has been authorized by the FCA to provide certain financial services to UK residents since 2018, distinguishing it from the unauthorized firms flagged by the watchdog. However, the company noted that while USDC is legal to use in the UK, the stablecoin is "not issued or regulated under the laws of the United Kingdom," with lawmakers still working to establish a comprehensive regulatory framework for digital assets. The deal highlights the tension between emerging crypto sponsorships and ongoing efforts by UK regulators to police the industry's marketing channels.

The partnership lands against a backdrop of growing crypto adoption in the UK, where a government report recently counted 240 crypto millionaires in 2025. Circle did not immediately respond to requests for comment from Cointelegraph, and the FCA declined to weigh in on the specific Chelsea arrangement. The development could set a precedent for how regulated stablecoin issuers navigate sponsorship deals in jurisdictions still finalizing digital asset rules.