Exciting News from the German Crypto Scene

The past week in the German-speaking regions has been nothing short of exhilarating for cryptocurrency enthusiasts and investors alike. From fresh funding to serious warnings about major players like Facebook, the developments keep rolling in. Buckle up, because we’re diving deep into the highlights!

Funding Boost for Centrifuge

On September 23, Cointelegraph auf Deutsch brought us the news that Centrifuge, a Berlin-based fintech startup, is receiving a significant financial boost of $1.5 million. This funding, sourced from both the public investment bank of Berlin and the European Regional Development Fund, is set to fuel their plans for developing their very own blockchain, aptly named Centrifuge Chain.

Here’s how the funding breaks down:

• A grant of approximately $430,000.
• A loan of about $1,100,000.

This capital is intended to support Centrifuge’s mission to link the global financial supply chain, creating an open and decentralized platform that could reshape financial transactions as we know them.

IOTA Teams Up with the Linux Foundation

On September 26, another big story emerged with the IOTA Foundation joining forces with the Linux Foundation. This collaboration, facilitated through LF Edge, seeks to forge an interoperable framework for edge computing, navigating past the limitations of traditional hardware and operating systems.

“We’re excited to take our first steps towards open collaboration,” said a spokesperson from the IOTA Foundation.

Experts Raise Red Flags about Facebook’s Libra

In a technical meeting of the German Bundestag reported on September 27, experts voiced significant concerns regarding Facebook’s ambitious cryptocurrency venture, Libra. There seems to be a consensus among lawmakers, particularly from German Vice Chancellor and Finance Minister Olaf Scholz, that parallel currencies like Libra are unwelcome.

The warnings underscore the need for regulation and oversight for such projects, reflecting the broader anxieties surrounding corporate digital currencies.

Call for Blockchain-Friendly Policies from BDI

On September 24, the Federation of German Industries (BDI), representing over 100,000 enterprises, urged the government to create conducive policies for blockchain technology. They emphasize that blockchain has vast potential for enhancing competitiveness within the German economy.

• Possible applications include a global digital market.
• Reducing trade costs across borders.
• Facilitating better networking between companies.

The BDI’s passionate plea highlights the urgency of adopting blockchain in various industry processes.

YouHodler’s Move to Switzerland

In a notable shift, the crypto-loan platform YouHodler announced on September 24 that they are relocating to Switzerland. This change marks their transition from a blockchain startup to an international fintech provider, aiming for explosive growth and robust business relationships in the crypto-fiat services realm.

With all these developments, it’s clear that the German-speaking world is making waves in the crypto sector. As the landscape evolves, stakeholders are keen to see how these trends will unfold in the weeks to come!