Bitcoin exchange CoinCorner sponsors competitor in Isle of Man motorcycle race

Bruce Anstey at the last year’s competition

CoinCorner, a bitcoin exchange and web wallet provider based in the Isle of Man, is sponsoring New Zealand rider Bruce Anstey in this year’s Isle of Man TT (Tourist Trophy) Races.

This marks the second year CoinCorner is sponsoring Anstey in the two-week motorcycle competition, which started on Saturday, according to a press release sent to CoinReport. The award-winning rider’s helmet bears both the CoinCorner and bitcoin logos.

Anstey has placed on the podium more than 30 times since his debut in 1996, said the press release. He is a former lap record holder, with a time of 17 minutes 6.682 seconds – an average speed of 132.298 miles per hour.

“Being from the Isle of Man, we all admire the skill and courage of those that race in the TT,” said Phil Collins, co-founder and head of operations at CoinCorner, to CoinReport. “It’s rightfully acknowledged as the world’s most dangerous road race and those that compete do so for the love of it, as the risk/reward is very much one sided.”

Collins said CoinCorner decided to sponsor Anstey because “he’s just such a likeable guy – a real gentleman around the paddock, quiet but totally approachable and friendly to boot. Stick him on a bike, however, and you unleash a cool, calculated speed demon … If he gets out of bed on the right side, Bruce is a proper force to be reckoned with.”

CoinCorner has been blown away by the amount of television and online coverage it’s received since it first sponsored Anstey last year in what started as a guilty pleasure, Collins said. “As an event, the TT grows in stature year [over] year, finally being recognized for the [spectacle] it is.”

The competition is seen by millions of people worldwide, said the press release. According to a TV schedule on the Isle of Man TT website, the races are being aired in regions such as Australia, Finland, France, Germany, Italy, Latin America, Mauritius, New Zealand, Norway, South Africa and the United States.

The Isle of Man is known for being bitcoin friendly. Danny Scott, CoinCorner co-founder and CTO, told CoinReport the island “has seen the opportunity in the potential of bitcoin just as it did with eGaming, with eGaming becoming one of the island’s biggest industries and hosting the likes of Pokerstars. The government here have been very proactive in welcoming businesses, but at the same time placing some light touch regulation on these businesses in the hope it will become a hub for bitcoin as it is for eGaming.”

Earlier this month, CoinCorner announced it had received a Designated Business Status from the Isle of Man Financial Services Authority.

The exchange applied for the status last fall following the introduction of The Designated Business (Registration and Oversight) Act, which came to life following a call for the authority to take responsibility for the oversight of the adherence of certain businesses and professions to the Isle of Man’s legislation on anti-money laundering and the countering of terrorism financing.

“Becoming a designated business, we hope to gain even more credibility with customers and business partners; however, operationally not a lot changes as we have always operated in a compliant manner,” Scott said. “Hopefully now being a designated business will also open some doors on the banking aspect, too.”

CoinCorner logo (featured/homepage image) – Via an earlier press release

Anstey’s photo – Courtesy of CoinCorner