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.
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.