1/
Europe is the third-largest region for crypto, although it has a high degree of fragmentation.
We created this guide to map the current state of the European industry and help founders explore top players and regulations that may shape the future of crypto in the Union.
Europe is the third-largest region for crypto, although it has a high degree of fragmentation.
We created this guide to map the current state of the European industry and help founders explore top players and regulations that may shape the future of crypto in the Union.
2/
Europeans believe cryptos are here to stay. And, there is a growing female user base.
A @Coinmarketcap report shows most of the new female entrants in 2020 came from European countries (58.55%), with Greece leading the trend, followed by Romania, Portugal, and Ukraine.
Europeans believe cryptos are here to stay. And, there is a growing female user base.
A @Coinmarketcap report shows most of the new female entrants in 2020 came from European countries (58.55%), with Greece leading the trend, followed by Romania, Portugal, and Ukraine.
3/
3.34% of French residents are estimated to own cryptos, of whom 67% are significantly wealthy, highly educated, and young.
The country has an innovative regulatory framework and its capital hosts large events such as the @ethcc and @PWBSummit.
#France
3.34% of French residents are estimated to own cryptos, of whom 67% are significantly wealthy, highly educated, and young.
The country has an innovative regulatory framework and its capital hosts large events such as the @ethcc and @PWBSummit.
#France
4/
#Switzerland was among the first vibrant blockchain environments and hosts the Crypto Valley.
It is home to crypto banks, @sygnumofficial and @WeAreSEBA, and several unicorns, including @ethdotorg, @dfinity, @Polkadot, @BITMAINtech, @Tezos, @Cardano, @Cosmos, and others.
#Switzerland was among the first vibrant blockchain environments and hosts the Crypto Valley.
It is home to crypto banks, @sygnumofficial and @WeAreSEBA, and several unicorns, including @ethdotorg, @dfinity, @Polkadot, @BITMAINtech, @Tezos, @Cardano, @Cosmos, and others.
5/
#Ukraine is an emerging crypto player, with 12.7% of their citizens holding cryptos.
However, geopolitical reasons, lack of efficient cybersecurity, and corruption limit the country from becoming a crypto hub yet.
#Ukraine is an emerging crypto player, with 12.7% of their citizens holding cryptos.
However, geopolitical reasons, lack of efficient cybersecurity, and corruption limit the country from becoming a crypto hub yet.
6/
Portugal, Malta, and Cyprus are crypto havens with favourable regulations, making them prime regions for crypto businesses.
Cyprus and Malta are adopting innovative technologies earlier than larger states. Portugal offers benefits while maintaining a watchdog approach.
Portugal, Malta, and Cyprus are crypto havens with favourable regulations, making them prime regions for crypto businesses.
Cyprus and Malta are adopting innovative technologies earlier than larger states. Portugal offers benefits while maintaining a watchdog approach.
7/
There is no EU-wide regulation, but the EC recently issued a proposal — MiCA (Markets in Crypto Assets).
If properly applied, this proposal might become the first regulatory framework for such a large region, setting new standards for the industry at the global level.
There is no EU-wide regulation, but the EC recently issued a proposal — MiCA (Markets in Crypto Assets).
If properly applied, this proposal might become the first regulatory framework for such a large region, setting new standards for the industry at the global level.
8/
However, the current proposal has some weaknesses. The association @INATBA_org pointed out that the new regulation ‘could negatively impact some emerging industry sectors like Decentralized Finance’.
cointelegraph.com/news/blockchai…
However, the current proposal has some weaknesses. The association @INATBA_org pointed out that the new regulation ‘could negatively impact some emerging industry sectors like Decentralized Finance’.
cointelegraph.com/news/blockchai…
9/
Despite some criticism, common regulations could make Europe safer and attract new businesses and investors.
Yet, a balance between 'legal certainty, support of innovation, consumer and investor protection, and market integrity' is required, according to @AgataJFerreira.
Despite some criticism, common regulations could make Europe safer and attract new businesses and investors.
Yet, a balance between 'legal certainty, support of innovation, consumer and investor protection, and market integrity' is required, according to @AgataJFerreira.
10/
According to @NomicsFinance, Europe made up 26% of the global crypto trade by volume last year.
European investors tend to hold onto their coins longer than other markets, and surpassed Asia for the amount of bitcoin held weekly.
According to @NomicsFinance, Europe made up 26% of the global crypto trade by volume last year.
European investors tend to hold onto their coins longer than other markets, and surpassed Asia for the amount of bitcoin held weekly.
11/
While Europeans generally have their pick of exchanges, several stand out for being more popular in the region – @binance, @bitpanda, @bitstamp.
Some smaller exchanges, like @Exmo_Com, @p2pb2b, @bitFlyerEU, also have great popularity in a few, specific European countries.
While Europeans generally have their pick of exchanges, several stand out for being more popular in the region – @binance, @bitpanda, @bitstamp.
Some smaller exchanges, like @Exmo_Com, @p2pb2b, @bitFlyerEU, also have great popularity in a few, specific European countries.
12/
Europe was also the birthplace of some of the most promising Layer 1 protocols, and continues to host the foundations that facilitate their ecosystems, @ethdotorg, @Polkadot, @CardanoStiftung, @cosmos and @TezosFoundation.
Europe was also the birthplace of some of the most promising Layer 1 protocols, and continues to host the foundations that facilitate their ecosystems, @ethdotorg, @Polkadot, @CardanoStiftung, @cosmos and @TezosFoundation.
13/
Further, the region is home to top projects such as @Ledger, @Nuri or @blockchain. Although still smaller than the US market, the European crypto ecosystem is robust and promising, producing several unicorns this year.
Further, the region is home to top projects such as @Ledger, @Nuri or @blockchain. Although still smaller than the US market, the European crypto ecosystem is robust and promising, producing several unicorns this year.
14/
Mining is not widespread in Europe, but there are some hold-outs in the Nordic region, driven by the desire to make Bitcoin and other PoW blockchains more sustainable.
Notable mining pools and farms:
⚫ @slush_pool
⚫ @Binance Pool
⚫ @GenesisMining
⚫ Linthal
Mining is not widespread in Europe, but there are some hold-outs in the Nordic region, driven by the desire to make Bitcoin and other PoW blockchains more sustainable.
Notable mining pools and farms:
⚫ @slush_pool
⚫ @Binance Pool
⚫ @GenesisMining
⚫ Linthal
15/
The crypto and digital asset financing sector is vibrant thanks to the many and well-known financial hubs in Europe. The region accounts for 12% of global funds actively investing in DeFi.
Notorious European VCs:
@OVioHQ, @1kxnetwork, @blueyard, @KR1plc, @fabric_vc,@IOSGVC
The crypto and digital asset financing sector is vibrant thanks to the many and well-known financial hubs in Europe. The region accounts for 12% of global funds actively investing in DeFi.
Notorious European VCs:
@OVioHQ, @1kxnetwork, @blueyard, @KR1plc, @fabric_vc,@IOSGVC
16/
DeFi is rapidly growing. @Siftedeu reported that 2021 is turning into a strong year for crypto and DeFi funding in the region. By June alone, 2021 outperformed the previous three years, hitting €1.2B ― three times the total amount raised in 2020 (€400M).
DeFi is rapidly growing. @Siftedeu reported that 2021 is turning into a strong year for crypto and DeFi funding in the region. By June alone, 2021 outperformed the previous three years, hitting €1.2B ― three times the total amount raised in 2020 (€400M).
17/
The UK stands out for DeFi innovation in Europe, being ranked as the third country in the world for developments in this sector.
@defialliance started a European chapter earlier this year, bringing together investors and projects from the European ecosystem.
The UK stands out for DeFi innovation in Europe, being ranked as the third country in the world for developments in this sector.
@defialliance started a European chapter earlier this year, bringing together investors and projects from the European ecosystem.
18/
Leading DeFi projects based in Europe:
🔴 @argentHQ
🔴 @jelly_swap
🔴 @NexusMutual
🔴 @AaveAave
🔴 @centrifuge
Leading DeFi projects based in Europe:
🔴 @argentHQ
🔴 @jelly_swap
🔴 @NexusMutual
🔴 @AaveAave
🔴 @centrifuge
19/
NFTs are also drawing a lot of attention recently, with Europe housing active auction houses, like @ChristiesInc and @AuctionMillon and several crypto artists:
⚫ @trevorjonesart
⚫ @Hackatao
⚫ @XCOPYART
⚫ @antonitudisco
⚫ @kevinabosch
NFTs are also drawing a lot of attention recently, with Europe housing active auction houses, like @ChristiesInc and @AuctionMillon and several crypto artists:
⚫ @trevorjonesart
⚫ @Hackatao
⚫ @XCOPYART
⚫ @antonitudisco
⚫ @kevinabosch
20/
On top of this, football NFTs are hitting the European market. Last year, many local football teams signed with @SorareHQ and @socios, ‘[bringing] non-crypto people into the world of blockchain’ @jeffwilser says.
On top of this, football NFTs are hitting the European market. Last year, many local football teams signed with @SorareHQ and @socios, ‘[bringing] non-crypto people into the world of blockchain’ @jeffwilser says.
21/
European crypto influencers are key leaders in the crypto space, right behind US counterparts. Twitter is the busiest platform, and some popular crypto accounts based in Europe are: @adam3us, @PeterMcCormack, @ErikVoorhees, @100trillionUSD, @gavofyork & @WhalePanda.
European crypto influencers are key leaders in the crypto space, right behind US counterparts. Twitter is the busiest platform, and some popular crypto accounts based in Europe are: @adam3us, @PeterMcCormack, @ErikVoorhees, @100trillionUSD, @gavofyork & @WhalePanda.
22/
Several blockchain and crypto events take place in Europe, gathering founders, investors, experts and enthusiasts.
Some of the biggest events are:
@PBWSummit, @EthCC, @Blockchain_Expo, @thecryptovalley, @AIBCsummit, @Blockchance_
Several blockchain and crypto events take place in Europe, gathering founders, investors, experts and enthusiasts.
Some of the biggest events are:
@PBWSummit, @EthCC, @Blockchain_Expo, @thecryptovalley, @AIBCsummit, @Blockchance_
23/
European universities are among the top in the world for blockchain and crypto curriculums, including:
@UNIC_ENG, @ETH_en, @FrankfurtSchool, @TU_Muenchen or @UniofOxford, among others.
European universities are among the top in the world for blockchain and crypto curriculums, including:
@UNIC_ENG, @ETH_en, @FrankfurtSchool, @TU_Muenchen or @UniofOxford, among others.
24/
The EU aims to become ‘a “gold standard” for blockchain technology’ by keeping investing in blockchain research and projects, as well as investigating a digital euro solution.
Find out more in our in-depth overview.
medium.com/beyondhype/the…
The EU aims to become ‘a “gold standard” for blockchain technology’ by keeping investing in blockchain research and projects, as well as investigating a digital euro solution.
Find out more in our in-depth overview.
medium.com/beyondhype/the…
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