Crypto News From the German-Speaking World: Oct. 13-19 in Review

The German-speaking world has seen another week of events in the crypto industry, with a new survey revealing that 27% of Germans are interested in using Facebook's planned Libra stablecoin, which has been discussed all over the world since its announcement in June 2019.

Despite existing criticism of Libra, global regulators do not plan to ban either Facebook's crypto initiative or other stablecoin projects, the European Central Bank director claimed earlier this week.

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

Lykke launches utility token to bet against crypto markets.

As reported by Cointelegraph auf Deutsch on Oct. 14, Swiss blockchain startup Lykke recently launched a new token designed to track the performance of the top 25 cryptocurrencies by market cap as well as to put bets on falling prices in the crypto market.

Dubbed Short LyCI, the new Lykke's utility token reportedly includes 73% of Bitcoin, 9.6% of Ether and 5.9% of XRP. Lykke founder Richard Olsen, who is also a co-founder of private financial services firm Oanda, noted that Short LyCI is a simple investment product to manage risks and hedge exposure during downturns on crypto markets.

German real estate giant Bauwens invested in the Foundation Group, which is known as the first-ever provider of real estate-based security token offerings regulated by major German financial authority, the Federal Financial Supervisory Authority.

As reported on Oct. 16, a board member of the German Bundesbank recently declared that the emergence of stablecoins - cryptocurrencies pegged to fiat currencies to provide a stable value - underpins the importance of central banks.

On Oct. 18, Cointelegraph reported on a new survey showing that 27% of German people are planning to use Facebook's planned cryptocurrency Libra.

Powered by French online survey firm Toluna, the survey shows 73% of German residents have completely rejected Libra, with 42% saying that they do not trust Facebook, while 31% of respondents noted that they only believe in centralized currencies.