Crypto startup to save iconic fiat currency sculpture with €1m funding
Crypto Industry Comes To Rescue Troubled 'Euro-Skulptur' Monument In Frankfurt After Legacy Banks Refuse To Support Symbol of the Eurozone decision- making.
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The paths of traditional finance and the cryptocurrency industry have crossed 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, or approximately $961,000, in funding over the next five years to save the famous euro symbol sculpture.
Announcing the news on Tuesday, Caiz said the company sees a good marketing opportunity in supporting the sculpture by getting unique exposure.
Thanks to the funding, the company was able to place its product sign next to the 14-meter-tall art installation bearing 12 yellow stars, which represent the original members of the monetary union.
European Monument and Caiz Marketing Program. Source: Caiz DevelopmentThe iconic euro statue was erected in 2001 in front of the former headquarters of the European Central Bank to celebrate the introduction of the euro, and has been standing ever since become a symbol of the decision of the euro zone. manufacturing. The monument has had problems in recent years as it has been frequently vandalized, forcing the Frankfurt Culture Committee to spend some 250,000 euros each year to keep the sign in good condition.
The committee sought support from 110 banks to save the sculpture, but none of them wanted to support the "Euro-Skulptur". Committee chairman Manfred Pohl said 90 of the banks didn't even bother to respond, while the eight that did respond didn't provide enough funds to save the panel.
"This symbol is part of Frankfurt's city identity. I can't understand that in Frankfurt we have to beg for money," Pohl said.
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Crypto Industry Comes To Rescue Troubled 'Euro-Skulptur' Monument In Frankfurt After Legacy Banks Refuse To Support Symbol of the Eurozone decision- making.
New
The paths of traditional finance and the cryptocurrency industry have crossed 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, or approximately $961,000, in funding over the next five years to save the famous euro symbol sculpture.
Announcing the news on Tuesday, Caiz said the company sees a good marketing opportunity in supporting the sculpture by getting unique exposure.
Thanks to the funding, the company was able to place its product sign next to the 14-meter-tall art installation bearing 12 yellow stars, which represent the original members of the monetary union.
European Monument and Caiz Marketing Program. Source: Caiz DevelopmentThe iconic euro statue was erected in 2001 in front of the former headquarters of the European Central Bank to celebrate the introduction of the euro, and has been standing ever since become a symbol of the decision of the euro zone. manufacturing. The monument has had problems in recent years as it has been frequently vandalized, forcing the Frankfurt Culture Committee to spend some 250,000 euros each year to keep the sign in good condition.
The committee sought support from 110 banks to save the sculpture, but none of them wanted to support the "Euro-Skulptur". Committee chairman Manfred Pohl said 90 of the banks didn't even bother to respond, while the eight that did respond didn't provide enough funds to save the panel.
"This symbol is part of Frankfurt's city identity. I can't understand that in Frankfurt we have to beg for money," Pohl said.
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