Libereum, a Dutch crypto firm, has acquired Elche CF, a Spanish soccer club, for $4.9 million. With the acquisition, the crypto company aims to buy a set of international soccer clubs and make its ERC20 token, Liber, a compulsory payment form to let fans into the stadiums of its owned clubs.

In 2015, Elche CF suffered from tax debts and economic mismanagement due to which it was downgraded from Spain’s Primera Division. According to the crypto firm Libereum, the company looks forward to restoring the club to the Primera Division by supporting it with Liber token.

The company intends to make the Libereum token a part of its club’s financial policy and enable payments to be done in an easily accessible manner with Liber. Activities including sponsor deals, ticket sales, merchandising items and catering services within the stadium will involve transactions in Liber.