The European Squash Federation (ESF) has become the first major sports federation in Europe to embrace cryptocurrency by adopting Bitcoin into its operations.

ESF will hold Bitcoin as an asset on its balance sheet, following the example of many leading global institutions. Additionally, ESF will facilitate the use of Bitcoin for both incoming payments and outgoing transactions, wherever it is deemed appropriate.

It will leverage its newly-launched media platform, European Squash TV, to enable fans to directly support players, clubs and national squash federations through donations. 

By adopting Bitcoin, we are not only modernizing our financial approach but also offering new opportunities for engagement and support within the squash community, said Otto Kalvø, ESF vice-president. We believe this will open doors for innovation and growth.

Meanwhile, the World Squash Federation has rebranded its logo for the first time since 2011 and cut its governing body name to World Squash.

The logo and branding update has been delivered by Squash Media and Marketing (SMM), a commercial entity owned and operated by the Professional Squash Association (PSA).

World Squash CEO William Louis-Marie said: Its such an exciting time for squash right now, with participation and viewing figures climbing as our sport prepares to make its Olympic debut at LA28, and the new logo and vibrant colours embody the sense of optimism and excitement among the squash community.