News : Goodbye, Staples Center. Hello, Crypto.com Arena

Los Angeles’ iconic Staples Center will become the Crypto.com Arena from Christmas Day, following a naming rights deal struck between cryptocurrency platform Crypto.com and the venue owners AEG.

Through the agreement, effective Dec. 25, the venue will take on its new name and be emblazoned with a new logo and branding assets. The 20,000-seater Staples Center is home to the NBA’s Los Angeles Lakers and LA Clippers, as well as the NHL’s LA Kings and WNBA’s Los Angeles Sparks.

Crypto.com revealed that it will also serve as the official cryptocurrency platform partner of the Lakers and the Kings.

“Known as the Creative Capital of the World, the city of Los Angeles and the people who call it home have always been pioneers, pushing the boundaries and innovating as the undeniable global leaders of culture and entertainment,” said Crypto.com co-founder and CEO, Kris Marszalek. “We’re very excited about partnering with AEG and investing long term in this city, starting with Crypto.com Arena in the heart of downtown, and using our platform in new and creative ways so that cryptocurrency can power the future of world class sports, entertainment and technology for fans in LA and around the world.”

Crypto.com was founded in 2016 and is headquartered in Singapore, with offices in Europe and Asia. The company recently launched a global promo campaign fronted by Matt Damon and has signed brand partnerships with UFC and F1 racing as well as a number of professional sports teams including Paris Saint-Germain, the Philadelphia 76ers and Montreal Canadiens.

This article was originally published by The Hollywood Reporter.