The paths of traditional finance and the cryptocurrency industry have intersected again, with a crypto startup coming to save the iconic “Euro-Skulptur” monument in Frankfurt.
Frankfurt-based crypto startup Caiz Development will provide 1 million euros, or about $961,000, in funding over the next five years to rescue the famous sculpture depicting the symbol for the Euro.
Announcing the news on Tuesday, Caiz
Now, the iconic monument has been saved thanks to the cryptocurrency industry, which is often very skeptical about the existing fiat currency system. Caiz Development CEO Joerg Hansen admitted that the cryptocurrency industry often opposes government-backed centralized currencies to in favor of decentralized cryptocurrencies.
“Our first reaction when we heard the sign was in danger was we couldn’t believe the city or the banks weren’t really interested in it,” Hansen said. “With how often this sign gets photographed, we said ‘Look, this is an absolute no-brainer.’”
