FRANKFURT, Sept 27 (Reuters) – An enormous blue euro sculpture within the coronary heart of Frankfurt’s monetary district has a brand new benefactor: The agency behind a sharia-compliant cryptocurrency.
The way forward for the sculpture, within the shadow of the European Central Financial institution’s former headquarters and lengthy an emblem of Frankfurt’s function in managing the only European forex, was in danger after the banks that paid for its maintenance backed out.
On Tuesday, the sculpture’s proprietor, the Frankfurt Tradition Committee, revealed that it had secured a brand new sponsor, saving it from having to public sale the 14-metre object.
Register now for FREE limitless entry to Reuters.com
The sponsor is the expertise developer Caiz, a Frankfurt-based firm whose Caizcoin conforms to the rules of Islamic finance and legal guidelines.
“The euro image is photographed a number of hundred occasions a day, so our involvement additionally is sensible from a business perspective as a advertising effort,” Joerg Hansen, chief government officer of Caiz improvement, advised Reuters.
The sculpture was constructed to a lot fanfare in 2001, shortly forward of the launch of euro notes and cash.
“Probably the most photographed object within the metropolis stays in Frankfurt am Important,” stated Manfred Pohl, chair of the committee that owns it.
The cryptocurrency’s emblem is prominently displayed on the sculpture’s base.
“We aren’t a risk to the euro. The euro will all the time exist,” Hansen stated.
Register now for FREE limitless entry to Reuters.com
Reporting by Marta Orosz; Writing by Tom Sims;
Enhancing by Alison Williams
: .
