Canada Basketball League Paying Bitcoin

The Canadian Elite Basketball League (CEBL) announced that it will allow its players to receive a portion of their salaries in bitcoin through a partnership with Canadian bitcoin exchange Bitbuy.

“Some of the best players outside the NBA, and some with NBA experience, have joined our league because we make player-first decisions,” said Mike Morreale, the commissioner and CEO CEBL, per the announcement. “Our partnership with Bitbuy speaks to our commitment to players, and also to our forward-thinking approach to how we go about our business. We appreciate Bitbuy’s investment in helping us further grow Canada’s official national pro basketball league.”

According to the announcement, the services provided by Bitbuy will encourage bitcoin self custody. The Canadian exchange will work with the CEBL to convert the players’ Canadian dollar-denominated salaries into bitcoin and help them receive BTC in personal wallets. Additionally, Bitbuy, which has over 300,000 customers, will also become a league sponsor through the partnership.

“We’re proud to support homegrown Canadian sports, and to partner with the league on this first-to-market initiative,” said Charlie Aikenhead, vice president of marketing at Bitbuy, in the announcement. “We think this represents a significant shift in how athletes are thinking about compensation, and we’re excited to help the CEBL’s players protect their long-term wealth by getting paid in bitcoin.”