The Statue of Euro in Frankfurt Surviving an Auction

The giant blue statue of the euro in the heart of Frankfurt’s financial district has a new sponsor. According to Reuters, the future of the statue was endangered when the banks responsible for its maintenance refused to finance it.

The statue’s owner, the Frankfurt Cultural Committee, has identified a new sponsor, saving the 14-meter-tall object from being put up for auction. The new sponsor is the Frankfurt-based technology company Caiz, which develops the cryptocurrency Caizcoin according to the principles of Islamic finance and laws.

The crypto company says that “their involvement is also logical from a marketing and commerce point of view because people take several hundred photos of the euro symbol a day.”

Jörg Hansen, CEO of Caiz Development, noted that the most photographed place in Frankfurt is the euro statue, which also provided the basis for the cryptocurrency’s logo. “We are not a threat to the euro. The euro will always exist,” he added.

The statue was erected in 2001, shortly before the release of euro banknotes and coins. It stands in front of the former headquarters of the European Central Bank and has long highlighted Frankfurt’s role in managing the single European currency.