Binance invests in Saatchis and 72andSunny as joint global creative partners

Binance, the world’s biggest digital asset exchange by spot-trading volume, has selected Saatchi & Saatchi and 72andSunny Amsterdam as its joint global creative partners. 

The two agencies were chosen to support a variety of global projects, after an extensive competitive pitch. 

These projects include the recently announced partnership with Cristiano Ronaldo, which will involve the Portuguese footballer creating a series of NFTs, available exclusively through the Binance NFT platform. 

The brand, which has 90 million users worldwide and claims to handle the equivalent of $76bn (£67bn) in cryptocurrency trades every day, said it is looking to diversify its platform to drive growth.

Saatchi & Saatchi takes on Binance's creative account less than a year after the Advertising Standards Authority (ASA) flagged crypto-asset advertising as a "red alert" priority.

"Crypto-assets have exploded in popularity in recent years, but there's a real danger that people may be drawn in to invest life savings that they later lose based on poor understanding," a spokesperson said at the time.

"We recognise the important role we play in regulating ads to ensure they don't mislead consumers about a product's risks or act irresponsibly in their promotion."

Last December, the ASA banned seven examples of cryptocurrency marketing as part of a crackdown in which the watchdog said it was working to police content better.