European Investment Fund has invested $30 million to the blockchain development fund – Bits Media

Fabric Ventures' crypto fund attracted $130 million for the development of startups, working with blockchain and cryptocurrencies. European investment fund (EIF) singled out $30 million.

Fabric Ventures Foundation Becomes First Foundation, received EIF funding for development digital assets and blockchain. The founders of the fund became the investors, partners and leaders of the following organizations: Ethereum, Wise (formerly TransferWise), PayPal, Square, Google, PayU, Ledger, Raisin, Ebury, PPRO, NEAR, Felix Capital, LocalGlobe, Earlybird, Accelerator Ventures, Aztec Protocol, Aragon, Orchid, MySQL, Verifone, OpenOcean, Claret Capital and other firms.

EIF Executive Director Alain Godard (Alain godard) said, that investments in the Fabric Ventures cryptocurrency fund will help bring it to the European market. This partnership is aimed at the development of blockchain in Europe, which will open up new opportunities for entrepreneurs, working with this technology. Godard thinks, that blockchain is a strategically important industry for the European Union, which will allow him to maintain competitiveness on the world stage.

“Support from the European Commission speaks volumes. EIF is aware, that the blockchain is being built for the common good, and it has geopolitical significance for the EU. Европа может конкурировать с «Диким Западом» Северной Америки и с Компартией Китая. Евросоюз должен использовать новейшие технологии как для улучшения жизни людей, and for business development ", - said Richard Merhead, Managing Partner of Fabric Ventures (Richard Muirhead).

IN 2019 year, the EIF and the European Commission launched a fund for $400 million for the development of blockchain and artificial intelligence (II). Last year, the European Commission reported, that plans to open a regulatory sandbox for cryptocurrency startups.