Europe leads the race to tokenize assets and the ICO fundraising boom

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Differences in national regulatory frameworks mean that one in four ICO projects is legally registered in a different county to that of its CEO/Founder

There are more ICO projects coming from Europe-based entities and European founders than any other region

Looking beyond the exponential increase in capital and cryptocurrency assets in 2017, we see a pattern of geographical diversity between ICO founding teams and also within the teams themselves. If the future of business ideas lies in decentralisation, then decentralised founding teams will be a key aspect of it.

Ricky Tan

  • TokenData

While entities registered in Europe have raised the most capital via ICOs, founders from North America have marginally out-raised those from Europe

Switzerland's openness to ICOs has attracted ICO projects that have raised significant capital

raised by ICO projects registered in Europe but whose founders are based elsewhere

Switzerland is a leading home to the legal entities behind ICO projects, but not always to their founders

The ICO fundraising model has allowed founders from around the world to raise capital

Map of funds raised ($M) via ICO by country

Map of funds raised ($M) via ICO by country
Geographical data sourced by TokenData from ICO websites, white papers and social media

Central & Eastern Europe dominates the number of ICO projects launched from Europe

...but looking at the sum of capital raised by founders, the UK is just ahead of CEE

European cities make up 5 of the Top 10 hubs globally for ICO projects, including the #1 hub

Top 10 cities by number of ICO projects based on location of CEO/Founder

But this is an area where everything is distributed, including the teams. Two out of three ICO projects have founding teams located in different countries

Share of ICO projects where founders are distributed in different countries