Crypto News From the German-Speaking World: Oct. 27

The German-speaking world has experienced another week full of exciting developments in the crypto industry, with Germany setting the pace in the European fintech scene, German banks arguing in favor of a digital euro, Austria testing how to trade electricity with blockchain technology, and the Swiss crypto trading platform Sibex securing a $1.8 million investment.

Here is the past week of crypto and blockchain news in review, as originally reported by Cointelegraph auf Deutsch.

Austria: Pilot project tests local blockchain electricity trade.

In a pilot project starting in November in Styria, Austria, local energy communities will be able to trade their own solar power with each other via a blockchain system.

Within the initiative, partners such as the state energy provider Wien Energie, EVN, Energie Burgenland and Energie Steiermark jointly research new technologies for the energy sector.

Depending on demand and on-site availability, this is either obtained through the company's own storage, via local trade or from the general network and will be automatically billed via the blockchain platform.

According to a market study on the global ecosystem of digital securities published by the Swiss tokenization platform Blockstate and the Frankfurt School Blockchain Center, Germany is now setting the pace in the European fintech scene.

Swiss crypto trading platform Sibex secures $1.8 million in financing round.

"Lack of infrastructure for over-the-counter trading can create problems that unsettle institutional investors who are accustomed to a particular quality of service. Sibex strives to solve existing problems while enabling professional traders to enter a new world of trading strategies and opportunities."

Following the court ruling, the founders of the Swiss crypto startup in liquidation announced that they would donate proceeds to the Liquidation Upgrade Program, an independently-managed foundation that will distribute the donated funds to Envion's creditors.