Just days after announcing the signing of American computer technology corporation Oracle as title sponsor, Red Bull Racing has secured yet another high profile sponsorship.

Bybit is a company involved in cryptocurrency exchange, and will join Red Bull in an all-around partnership, with the platform born in March 2018 taking on the role of Principal Team Partner.

It's a multi-year agreement that will also see Bybit have an important role in technological matters and securing the relationship between fans and the team, issuing Fan Tokens, as the company is also appointed as Cryptocurrency Exchange Partner and the team’s Tech Incubator Partner.

A next level partnership 💪 @Bybit_Official #RaceToTheNextLevel pic.twitter.com/Whab5ysdxW

— Oracle Red Bull Racing (@redbullracing) February 16, 2022

Not only crypto will brought to the team, home of reigning World Champion Max Verstappen, by Bybit, but the partnership will also focus on the promotion of green technologies, and the values of sustainability and diversity.

Team Principal Christian Horner announced the deal, highlighting the importance the newly agreed bond will have in terms of the technological advancement of the team.

"I’m delighted to welcome Bybit to the Team. It’s fitting too that, as we enter a new generation of competition of F1 in 2022, with an advanced and potentially game-changing new philosophy of cars taking to the track, that Bybit also exist at the cutting edge of technology," he said.

"They share the Team’s passion to exist at the forefront of technological innovation, to set the competitive pace and to disrupt the status quo. Allied to that is Bybit’s commitment to enlivening the fan experience in F1 through digital innovation."

Horner believes that the signing will be proficuous for the fans as well, since it'll help increased their engagement by taking advantage of new, digital medias:

"This is also a key mission for the Team and Bybit’s assistance will help us build a deeper more immersive and unique connection with the team for fans around the world.”

🗣 "I’m delighted to welcome Bybit to the Team. They share the Team’s passion to exist at the forefront of technological innovation” Christian on @Bybit_Official #RaceToTheNextLevel

— Oracle Red Bull Racing (@redbullracing) February 16, 2022

Ben Zhou, co-founder and CEO of Bybit also commented on the deal, focusing on the similarities between the two companies and their beliefs:"Oracle Red Bull Racing’s unique energy and creativity inspires us. The team has changed the game in the same way that digital assets have changed the global financial system."

"Bull or bear, everyone has the opportunity to take financial freedom in their own hands at the dawn of the digital economy. A moment on the track is made possible by tireless work to perfect the chassis, the engine, the craftsmanship, and by the racing drivers’ relentless pursuit for precision and focus in an adrenaline-fueled game," he concluded.