According to a recent study, Europe, particularly the United Kingdom, does not want to lose its role as a hub of innovation and hence supports fintech and, in particular, DeFi.
Although most observers have recently been focused on China’s or the United States’ attitudes toward crypto, i.e., decentralized finances, Europe has surprised many in recent days, particularly with its favorable development and support for DeFi.
With this discovery, Dove Mountain Partners’ Pierre Chuzeville performed a study to determine how many initiatives in Europe obtained funding and how much money was raised.
So far, in 2021, a total of 56 European DeFi teams and projects have won $282 million in financing. This figure reflects 20% of the total number of people in the world.
Beyond ($7.5 million), Gro ($7 million), Element Finance ($4 million), and Liquity ($6 million) were among the startups that received funding from Pantera Capital and others.
The United Kingdom was the obvious leader in this situation, accounting for up to 45 percent of all European H1 fundraising rounds.
Let’s look at how particular European countries are fairing in terms of funds actively investing in DeFi.
As shown in the graph, the United Kingdom is likewise the top in this category, with 78 active funds accounting for 35% of all active funds in Europe. With 35 funds, Switzerland is attempting to compete, as is Germany with 32 funds. The overall number of DeFi European funds held by these three nations is estimated to be around 65 percent.