Red Bull Racing set to enter partnership with PayVoo
Aston Martin Red Bull Racing is set to enter a new partnership with Lithuanian FinTech company PayVoo for the 2020 Formula 1 season, Decalspotters can reveal.
PayVoo, established in 2019, is a financial tool with an online interface, invented and designed to manage multi-currency funds, including Blockchain Values, via bank transfer, mobile or other payment methods.
The Lithuanian company is linked to previous Red Bull Racing sponsor FuturoCoin, an open-source based cryptocurrency coined by Roman Ziemian and Stephan Morgenstern, which had signed a two-year contract with the Austrian team last year.
In the past months the group got involved in a scandal regarding fraudulent procurement and acquisition of Gambian Diplomatic Passports alongside scam allegations under the FutureNet group of companies.
Red Bull recently underwent a promotional filming event in Pernis, Rotterdam with Patrick Friesacher and Jüri Vips using RB7 show-cars with PayVoo branding present on the top of the sidepod and on the headrest. If the deal is a continuation of FuturoCoin’s, PayVoo’s decals can be expected to be also seen on the drivers’ overalls and team transporters.
Patrick Friesacher and Jüri Vips were the guys replacing Max and Alex in the Red Bull promo yesterday and today in Holland. pic.twitter.com/V84V0Ga2mB— Parc Fermé (@PFF1) January 27, 2020
FuturoCoin became the first cryptocurrency to sponsor a Red Bull-backed team, as Financial.org’s FOIN currency had debuted the concept into the sport in 2018 as part of its partnership with Williams Racing.