PRESS RELEASE. The preservation of the Euro sculpture in downtown Frankfurt, Germany, has been in danger in recent months as no sponsors were willing to provide the required financing. At the same time, the costs of maintaining the sculpture have risen considerably, mainly due to increased levels of vandalism.
The independent non-profit association Frankfurter Kultur Komitee e.V., the owner of the Euro sculpture, would have been forced to have the sculpture auctioned off as a last resort by 15 October 2022 if no one had stepped forward to help.
Because of this situation and the resulting discussion in the media, the issue became a hot topic. Through this media attention, the Frankfurt company CAIZ Development GmbH became aware of the problem. As a local company with its roots firmly in the financial centre, they quickly decided to develop the financing necessary for the Euro sculpture to remain in Frankfurt.
CAIZ Development is a fintech company headquartered in Frankfurt, and it is developing a blockchain-based ecosystem for financial inclusion. For CAIZ Development, that means, among other things, access to a transactional account – currently unavailable to more than two billion people worldwide. “Caiz” in Arabic stands for “permitted, trustworthy and legal,” and it represents a general ethical orientation in the financial world.
The sponsorship contribution doesn’t only cover the maintenance costs for the Euro sculpture for the next five years. The main sponsor will also organize events on topics that match the statutory purpose of the Frankfurter Kultur Komitee e.V. association.
The city of Frankfurt, the European Central Bank and the local state (Hessian) Ministry of Finance will continue to be involved in the activities around the Euro sculpture.
Of course, further sponsors to support the Frankfurter Kultur Komitee, e.V. are always welcome.