Newly-promoted English Premier League football club Wolverhampton Wanderers has agreed a deal for cryptocurrency exchange platform CoinDeal to become its sleeve sponsor.

Wolves said the deal, which covers the 2018-19 season, marks the first-ever sports sponsorship deal involving a cryptocurrency exchange platform. The deal was brokered by WH Sports Group.

Joe Williams, director of WH Sports Group, said: “This is a groundbreaking partnership in the cryptocurrency sector, giving Coindeal a global platform to promote their cutting-edge exchange to a huge array of potential customers. We are delighted to have facilitated this with Wolves on the eve of their return ot the Premier League."

As well as exposure on the club’s shirts, CoinDeal will benefit from branding on LED advertising boards and in the dugout at Wolves’ Molineux home ground, as well as logo space on first-team training kit.

Wolves managing director Laurie Dalrymple said: “Once more a partner has agreed to tweaking the colour of their logo to complement our kit, which is a huge gesture of goodwill towards the club and its fans, and something we are very grateful for.

”CoinDeal is a bold and progressive company, who we believe to be an ideal match to become one of our principal partners, and we look forward to working with them throughout our first season back in the Premier League.”

CoinDeal co-founder Kajetan Maćkowiak added: “At CoinDeal we are very aware of the impact that football marketing can have on brand and its community, especially in industry such as ours. We believe that a club like Wolves will help portray our message globally."

CoinDeal was founded in March and currently offers 22 cryptocurrency markets.

Next season will mark Wolves’ return to the top flight of English football following a six-year absence. So far this summer, the club has named German sportswear manufacturer Adidas as its new kit supplier in a four-year deal and signed a two-year agreement for online gaming company W88 to become its main shirt sponsor.