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Adidas, Coinbase Will Partner on Payments

"We've partnered with @coinbase," the company wrote on its Twitter account.

German sportswear giant Adidas ( (ADDYY) ) is one step closer to accepting cryptocurrency payments after announcing a partnership with Coinbase ( (COIN) - Get Free Report) on Twitter.

"We've partnered with @coinbase," the company wrote on its Twitter account on Wednesday afternoon, before adding a facetious "probably nothing." 

Coinbase was founded in 2012 as a platform to store bitcoin, ethereum and other cryptocurrencies. 

In recent months, it has also partnered with esports organization Team Liquid and University of Pennsylvania's Wharton School of Business to enable cryptocurrency payments. 

The news quickly gathered attention on Twitter, with the original post garnering over 8,000 likes in less than an hour. Many crypto enthusiasts expressed excitement over the news.

Over the last year, more traditional retail giants have started to make moves toward accepting cryptocurrency payments. 

Earlier this week, the company also hinted at the possibility of partnering with the virtual metaverse game know as The Sandbox.

Adidas ( (ADDYY) ) shares are currently down 1.27% to 268.40 euros while Coinbase ( (COIN) - Get Free Report) stock is down 1.46% to $312.56.

NOTE: This article will be updated as more information about the partnership becomes available.