(BlockBar) According to Cryptoninjas, UTRUST announced the first integration of online merchants, and the official online store of SL Benfica Football Club will adopt UTRUST’s cryptocurrency as payment. Fans of the team will be allowed to use Bitcoin or Ethereum to purchase membership, tickets and other merchandise from the official online store.

On May 10 this year, UTRUST has been approved to join the Financial Services Standards Association (FSSA). As a self-regulatory institution in Switzerland, UTRUST is able to conduct business as a “financial intermediary” by the permission of the Swiss Financial Markets Regulatory Authority (FINMA).

SL Benfica has a long and glorious history in the European football world. The veritable famous club leads to the development of world football and jointly creates the history of European football. The club has 14 million fans worldwide and 7 million active fans on Internet and social media. Now the club currently announced the support for Bitcoin, Ethereum and UTK payments. On one hand, this application will protect the club from market volatility and reduce processing fees and eliminate inconvenient credit-card chargebacks and fraudulent payments. What’s more, SL Benfica can settle payments directly to its bank on the same day the received. On the other hand, for fans, paying with cryptocurrency is safer, cheaper and faster than any other online payment methords.

As stated by Domingos Soares de Oliveira, SL Benfica CEO, in an interview on Wednesday: “This is an exciting day in the history of S.L. Benfica, as we announce our decision to accept cryptocurrency payments. Our benfiquistas make Benfica the unique and special club it is and we recognize that many of our supporters are now digital users first, so we want to be ahead of the curve when it comes to adopting novel technologies and giving our supporters the best online experience. We are very excited about the possibilities that this partnership with UTRUST presents in the evolution of our e-commerce strategy, and we look forward to accepting our first cryptocurrency payment.”

According to UTRUST CEO Nuno Correia, SL Benfica’s adoption of encryption technology is a milestone for UTRUST and the blockchain ecosystem. Soon, other major football clubs will follow the footsteps of the Portuguese club and support encrypted payments.

Although this is not the first time that the football world use cryptocurrency, it is obvious that this is the first time that cryptocurrency has been used as a regular payment method.