Source
r/CryptoCurrency•
AXTurbo

European Union Investment Fund puts $30M in new digital assets fund - "a field of particular strategic importance for the EU and it´s competitiveness on the global stage"

FINANCE

tl;dr: the European Union Investment Fund (EIF), invests $30 million in 'Fabric Ventures', a Luxembourg venture capital fund that invests in digital assets, tokenization projects and other blockchain applications. This underlines that this sector is "strategically important" for the EU.

In an official statement on the EIF's decision to support the fund, EIF chief Alain Godard said this partnership seeks to address the need [in Europe] and unlock financing opportunities for entrepreneurs active in the field of blockchain technologies. According to him, this area is "of particular strategic importance for the EU and our competitiveness at global level".

org. source: https://www.eif.org/what_we_do/equity/news/2021/european-investment-fund-and-luxembourg-future-fund-to-back-fabric-ventures.htm

Posted Jul 30, 2021, 7:01 AM UTC · edited

1313
TheDweadPiwatWobbas•

They're starting to get it. You can't ban Crypto. At worst you can only slow down its evolution with mass regulations, but you can't make it go away and you can't make people not use it.

So either you waste time and resources trying and failing to stop this technology, or you get in on the ground floor.

3
kavicaa Dragon Lady•

huh, i didn't think EU would get into digital assets this soon, but i like being wrong

2
oshinbrucePlatinum | QC: CC 773 | BANANO 6 | TraderSubs 10•

$30 mil is chicken feed to them, but its enough to encourage growth and to show the EU is interested. Honestly though they are right, this will be a massive area in the future.

2
kavicaa Dragon Lady•

agreed! 30mil is a pretty good sum to explore and figure the market. i think this investment is just the begging!

1
RaaljebuzethTin•

Regarding crypto, what else have you been wrong about?

1
Intelligent_Page2732Platinum | QC: CC 979•

Wow a whopping 30M, that gonna make a dent

1
gesocksSilver | QC: CC 892, ETH 20 | NANO 43 | ExchSubs 18•

its not about the amount. its about the implication this has

5
Intelligent_Page2732Platinum | QC: CC 979•

They throw in pocket money for shits and giggles

1
AXTurboOP•

you should know that this fund has an overall capital contribution of ~$130m, so the EIF's $30m are at least almost a quarter

1
upremusPlatinum | QC: CC 531•

they will create the EURO Digital Coin and regulate the hell out of it

1
RaaljebuzethTin•

This will turn people to the idea of digital coins and then, pretty soon, they'll be elevating up to crypto

1
RedXBusinessPlatinum | QC: BTC 50, CC 29, ETH 22 | MiningSubs 42•

Agreed. As soon as the understand what a eEuro,eYuan, eDollar, really is ,real crypto will shine even brighter.

1
Happy_Grogu1 - 2 years account age. 100 - 200 comment karma.•

https://ec.europa.eu/info/strategy/eu-budget/eu-budget-added-value/fact-check_en

Interesting read on whole EU budget and what they spend it on to put this 30m in perspective.

1