Ripple puts XRP on Kansas Jayhawks uniforms in multi-year deal

Ripple is taking XRP onto one of college sports’ most visible stages: Kansas Jayhawks uniforms. For everyday crypto investors, the deal is a reminder that token-linked companies are again spending on mainstream sports marketing, even though brand exposure does not automatically translate into price gains.

The payments company signed a multi-year sponsorship agreement with University of Kansas Athletics that will put the XRP logo on jerseys across the university’s sports teams, according to Decrypt. Under the agreement, XRP will also be designated the official cryptocurrency of Kansas Athletics.

XRP is the digital asset created by Ripple’s founders. Ripple uses blockchain technology in payments products, while XRP trades separately on crypto markets where its price is set by buyers and sellers.

Kansas Athletics Director Travis Goff said in a statement that college sports now require “innovative, forward-thinking partnerships.” He said Ripple saw the reach of the Jayhawks fan base and chose Kansas Athletics as a platform to introduce XRP to a broad sports audience.

What Kansas gets from the deal

The sponsorship goes beyond logo placement. Ripple will fund educational programs for Kansas student-athletes focused on traditional finance and digital assets, according to Decrypt. The company also plans to help connect University of Kansas graduates with technology career opportunities.

Kansas men’s basketball coach Bill Self said in a statement that college athletics is in a period that calls for bold moves. He said the team would make sure players understand the partnership and why the school sees it as useful.

The deal also has a personal link at the top of Ripple. CEO Brad Garlinghouse graduated from the University of Kansas and has previously described watching Jayhawks games as a “guilty pleasure,” according to a University of Kansas alumni profile cited by Decrypt.

Crypto sponsorships are back in view

Crypto companies have used sports sponsorships for years to reach fans who may not follow digital assets closely. The pitch is straightforward: a jersey logo, arena sign, or league partnership puts a crypto brand in front of millions of people in a setting that feels familiar.

That strategy has had mixed results. FTX bought naming rights to the Miami Heat’s arena in 2021 before the exchange collapsed and founder Sam Bankman-Fried was convicted of fraud. The FTX name was later removed from the arena, according to Decrypt and NBA reporting cited by the outlet.

Terra, another crypto network that collapsed, signed a five-year sponsorship with Major League Baseball’s Washington Nationals in 2022, according to Decrypt. Terra founder Do Kwon is also behind bars, while the logo remains at the ballpark, Decrypt reported.

More recently, crypto firms have returned to sports deals. Coinbase has maintained a sponsorship with the NBA, according to Decrypt. Ledger, a Paris-based digital asset security company, reached an agreement with the San Antonio Spurs last year that placed its logo on Spurs jerseys and on the arena floor during the NBA season.

XRP price reaction

Decrypt reported that any market benefit from Ripple’s Kansas deal was not visible right away. XRP was down about 4.2% on the day and trading near $1.07, while holding a top-six ranking among digital assets with a market capitalization of about $67 billion.

Market capitalization, or market cap, is the total value of a token’s circulating supply at the current price. Decrypt reported that XRP reached an all-time high of $3.65 last year and has since fallen nearly 71%.

For investors, the Kansas deal is best read as a visibility move by Ripple and a new example of crypto’s push back into sports sponsorships. The market will decide separately whether that exposure affects demand for XRP.

This story draws on original reporting from Decrypt.