Together with the Ministry of Education, Science, Culture and Sport and the “Olympionic” charitable foundation, Fastex has signed a cooperative agreement. Fastex will provide up to 5 million FTN to athletes and coaches who achieve top places in various sports events, aiming to support sports in Armenia, improve athletes' conditions, and boost victories in domestic sports.
The allocated funds will be securely locked on the blockchain until 2030 and then released according to predefined terms, as detailed in smart contracts.
Fastex’s co-founder Vigen Badalyan and CEO Vakhtang Abrahamyan have stressed the significance of supporting domestic sports development and Fastex’s commitment to long-term support for this industry. Armenia's Deputy Minister of Education, Science, Culture and Sports, Karen Giloyan, in his turn, has highlighted the importance of constant additional funding and support for sports in Armenia.
This agreement will serve as a solid ground to work together in order to achieve the goals outlined in the partnership.