The iconic euro sculpture outside the former headquarters of the European Central Bank (ECB) in Frankfurt has been saved and will no longer need to be dismantled after finding a new benefactor: a firm that developed a cryptocurrency that respects the religious precepts of Islam, Reuters reports.

The future of the sculpture, located in the heart of Frankfurt’s financial district, has been thrown into doubt after the banks that until now paid for the upkeep of the 14-meter-high, 50-ton sculpture, announced that they would no longer do so. so. , notes Agerpres.

On Tuesday, the owner of the sculpture, the non-profit association Frankfurter Kultur Komitee (FraKK), announced that it had managed to find a new sponsor so that the symbol of the city of Frankfurt would no longer have to be put up for auction.

“The most photographed object in the city remains in Frankfurt am Main,” said FraKK President Manfred Pohl.

Sponsored by the financial start-up Caiz Development, which will cover the cost of maintaining the sculpture for the next five years, which is about 200,000 euros per year. The money is needed for repairs, especially vandalism, for lighting and for inspections that need to be done twice a year.

“The euro symbol is photographed hundreds of times a day, so our participation makes sense from a commercial point of view as a marketing event,” says Caiz Development Director Jörg Hansen. Caiz Development is the company that developed Caizcoin, a cryptocurrency that respects the religious precepts of Islam.

From now on, the Caizcoin cryptocurrency logo will be prominently displayed at the base of the euro sculpture. “We are not a threat to the euro. The euro currency will always exist,” Hansen emphasized.

The euro sculpture, designed by German artist Ottmar Horl, was installed in 2001 to commemorate the introduction of the euro and has often appeared as an image for reports on the ECB.