In Frankfurt’s financial district, a large blue euro sculpture that has long been a symbol of the city’s role in managing the European currency has found a new sponsor: the firm behind a sharia-compliant cryptocurrency. The sculpture was at risk of being auctioned off after the banks that previously supported its maintenance backed out. However, the Frankfurt Culture Committee announced that Caiz, a technology developer based in Frankfurt, has stepped in as a sponsor to save the 14-meter sculpture.
Caiz’s cryptocurrency, Caizcoin, follows the principles of Islamic finance and laws. Joerg Hansen, the CEO of Caiz development, highlighted that sponsoring the sculpture, which is photographed hundreds of times a day, also serves as a commercial marketing effort for the company. The sculpture was originally constructed in 2001, just before the introduction of euro banknotes and coins, and has remained one of the most photographed objects in the city.
The Frankfurt Culture Committee, which owns the sculpture, emphasized that the euro symbol will continue to be a significant part of Frankfurt’s identity. Despite the sponsorship from Caiz and the presence of the cryptocurrency’s logo on the sculpture’s base, Hansen reassured that Caizcoin does not pose a threat to the euro, stating that the European currency will always exist. The involvement of Caiz not only ensures the preservation of the iconic sculpture but also adds a new dimension to Frankfurt’s financial landscape.
