In Frankfurt’s financial district, a large blue euro sculpture, long a symbol of the city’s role in managing the European currency, has found a new benefactor. The firm Caiz, known for its sharia-compliant cryptocurrency, has stepped in to sponsor the sculpture after the banks that previously supported it backed out. The Frankfurt Culture Committee, the sculpture’s owner, announced the new sponsorship, saving the 14-meter object from potential auction.
Caiz, a technology developer based in Frankfurt, is behind the Caizcoin cryptocurrency, which adheres to Islamic finance principles. The company sees its sponsorship of the sculpture as a strategic marketing move, as the euro symbol is widely photographed in the financial district. Joerg Hansen, CEO of Caiz development, emphasized that their involvement is not a threat to the euro, which will always exist.
The euro sculpture, unveiled in 2001 just before the launch of euro notes and coins, remains a significant landmark in Frankfurt. Manfred Pohl, chair of the committee that owns the sculpture, highlighted its importance as one of the most photographed objects in the city. The Caizcoin logo is prominently displayed on the sculpture’s base, showcasing the connection between the cryptocurrency and the iconic symbol of the euro in Frankfurt.