Scotcoin is now a sponsor of Glasgow Hutchesons’ Aloysians (GHA) rugby union club. The Giffnock-based sports team, who play in the top tier of Scottish Club Rugby, will display signage carrying the Scotcoin logo around the club’s ground, Braidholm.

The new deal underlines the burgeoning ties between sporting associations and the growing world of digital assets. Scotcoin is also believed to be the world’s only purpose-driven cryptocurrency, with community, environmental and social aims at its core.

Its community interest company (CIC) seeks to use the cryptocurrency as a force for good, supporting a range of charitable and community projects that boost Scotland’s ambitions for a fairer and greener society.

Earlier this year, Scotcoin announced its plans to publicly list by trading exclusively on ProBit Global, an international exchange with over two million users.

Gordon Adams, vice president at GHA RFC, said: “We are excited about the new relationship with Scotcoin, which introduces the club to digital currencies. The senior squad and club would like to record their gratitude to Scotcoin and look forward to promoting and endorsing the brand among the Scottish rugby community.”

Temple Melville, CEO of the Scotcoin Project CIC, added: “It’s great to be the first cryptocurrency sponsor in Scottish rugby. Scotcoin’s CIC was established to use cryptocurrency as a force for good, creating impact across a range of projects and communities. This link with GHA represents an exciting cross over between cryptocurrency and a sports club central to the local community.”