The biggest sporting event on the planet just entered its most intense phase, and crypto has a front-row seat. Three FIFA World Cup Round of 32 matches are set for today, June 29, kicking off the knockout stage of the first-ever 48-team tournament. Kraken, which signed on as the Official Crypto Exchange Supporter of the 2026 World Cup on June 10, is now riding the wave of peak global viewership.

Today’s matches and the new tournament format

The day’s action starts at 1 p.m. ET with Brazil taking on Japan at NRG Stadium in Houston. That’s followed by Germany versus Paraguay at 4:30 p.m. ET at Gillette Stadium in Foxborough, Mass. The night cap is Netherlands against Morocco at 9 p.m. ET at Estadio BBVA in Monterrey, Mexico.

Group play wrapped up yesterday, June 28, with Canada clinching a 1-0 victory over South Africa to close out the final day of pool-stage matches. The expanded format, which bumped the field from 32 to 48 teams, means the knockout stage now begins with a Round of 32 rather than the traditional Round of 16.

Kraken’s World Cup play and the fan token surge

Kraken announced its FIFA partnership on June 9, just one day before the deal officially commenced on June 10. The exchange supports over 600 digital assets on its platform. Fan token trading has surged during the World Cup group stage. Crypto fan tokens are digital assets tied to specific sports teams that give holders access to voting rights on minor club decisions and exclusive perks.

The convergence of prediction markets and the World Cup has also drawn attention. Bettors and traders alike are using crypto-native platforms to wager on match outcomes, creating additional volume and liquidity in digital asset markets during the tournament.

What this means for crypto investors

Kraken’s approach differs from long-term venue naming deals. This is an event-specific partnership tied to the World Cup. FTX’s naming rights on the Miami Heat’s arena became an industry punchline after the exchange collapsed in 2022.

Fan tokens tend to be highly volatile and correlated with team performance rather than any fundamental crypto metrics. A surprise elimination can crater a token’s price overnight, while a deep tournament run can fuel speculative buying. The 48-team format means more countries competing and more national fan bases with potential exposure to crypto products.

Kraken securing the FIFA partnership positions it ahead of rivals like Coinbase and Binance in the sports marketing arena for this tournament cycle. The question for investors is whether the surge in sign-ups and trading volume during the World Cup translates into lasting user retention after the final whistle blows in July.