The Ferrari Formula 1 team — Scuderia Ferrari HP — has taken a step into the crypto arena over the weekend. On January 16, the entity announced a partnership with BingX, onboarding the exchange as a “team partner”.
For the Singapore-based BingX exchange, this makes for the first collaboration with a motorsport major. For Ferrari, this multi-year deal represents its testimony of keeping pace with emerging technologies.
“As we approach a new era in motorsport with the 2026 FIA regulations, this alliance demonstrates our readiness to explore cutting-edge innovation both on and off the track” said Lorenzo Giorgetti, Chief Racing Revenue Officer of Scuderia Ferrari HP in his official statement.
Giorgetti is expecting to have the brand connect with a new sect of global audiences who come together via tech and community efforts which now includes crypto tokens.
“Over the coming years, the partnership will see BingX integrated across a range of Scuderia Ferrari HP activities, including events, digital platforms, global content and exclusive fan experiences,” Ferrari said in its official statement.
For now, neither Ferrari nor BingX have elaborated on what this collaboration entails. The exact number of years the partnership has been locked-in also remains undisclosed for now.
In 2023, the Italian carmaker had clocked a loss of $55 million and terminated its partnership with Velas after the crypto slump that year had impacted Velas and nudged Ferrari to pull away from engaging with digital assets.
Incidentally, this is not the first such partnership between a racing major and a crypto player that made it to the headlines this month.
On January 16, the Audi Revolut F1 Team onboarded the Nexo exchange as its digital assets partner for multiple years. The move was more significant as the 2026 F1 season will be Audi’s debut in the legacy racing competition.
Previously, crypto platforms like Crypto.com and OKX have also entered F1 sponsorship programmes, looking to grab exposure among members of the international luxury sports community.