Update (Aug. 28, 8:30 pm UTC): This article has been updated to include information about the FCA’s oversight of stablecoins.
Circle, the issuer behind the USDC stablecoin, will be the latest sponsor for the Chelsea Football Club just months after the UK’s financial watchdog warned about “questionable sponsorship deals with unauthorized financial firms,” including crypto companies.
In a Friday announcement, Circle said its name and USDC would appear on jerseys for Chelsea FC players in the 2026/2027 season. The partnership deal between the football club and the digital asset company came about three months after the UK’s Financial Conduct Authority (FCA) said it had sent warning letters to clubs in the Premier League, potentially including Chelsea.
The letters concerned “unauthorized” companies, including crypto businesses, using sponsorship deals to target football fans, potentially breaching UK financial services laws. Circle UK Trading Limited, the company’s UK arm, has been listed as a company authorized under the FCA to provide certain financial services to residents since 2018.
Stablecoins like USDC are also legal to use in the country, though lawmakers are working to establish a comprehensive regulatory framework for the digital assets. The financial watchdog is set to enforce new standards on digital asset companies, including stablecoin issuers, starting in October 2027.
Notably, although Circle said that USDC was “issued by certain regulated affiliates,” the stablecoin was “not issued or regulated under the laws of the United Kingdom.” Cointelegraph reached out to the FCA, who declined to comment. Circle did not immediately respond to a request for comment.
Related: UK government reports 240 crypto millionaires in 2025
