Ripple to Sponsor Kansas Jayhawks, XRP Patch on Jerseys

Ripple has become an official sponsor of Kansas Jayhawks athletics, and an XRP logo patch will appear on team jerseys, the company announced Wednesday, making XRP the first cryptocurrency featured on a major collegiate athletics uniform.

Under a multiyear agreement, an XRP patch will be placed on Jayhawk team uniforms. Ripple will fund financial and technology education programs for student-athletes and expand its pipeline connecting University of Kansas graduates to jobs in the technology industry. The sponsorship links Ripple with the university that is the alma mater of CEO Brad Garlinghouse.

Travis Goff, the university's director of athletics, praised the reach and passion of the Jayhawk community and said the logo reflects a commitment to innovation and excellence.

The NCAA approved a policy in January allowing Division I teams to place corporate logos on jerseys beginning in August, creating a pathway for commercial patches on college uniforms. Cryptocurrency firms have previously sponsored teams and venues, but a cryptocurrency logo on a major collegiate uniform is a first.

The agreement follows a long-running regulatory dispute. In 2020 the U.S. Securities and Exchange Commission sued Ripple, alleging the company raised about $1.3 billion through unregistered sales of XRP. A settlement required Ripple to pay roughly $125 million, and both parties dismissed their appeals last August.

Brad Garlinghouse described the four-year lawsuit as having cost XRP holders value, prompted some exchanges to delist the token and created doubt unrelated to the technology. He added that with the litigation resolved Ripple intends to highlight XRP's utility.

XRP is among the largest non-stablecoin cryptocurrencies, with a market capitalization in the tens of billions of dollars. The sponsorship will place the token in front of university fans during the athletic season as Kansas integrates corporate branding into its uniforms.