Compared to Germany, Switzerland or generally the EU, where does Austria genuinely outperform in blockchain and fintech and where are we currently losing momentum? We've built great competence at the regulator (FMA) in Austria, which is now giving us strong momentum due to the international rush into European markets enabled by the MiCA Regulation. In theory, you can choose any of the 27 member states to get the license, but major players are flocking to Vienna. I'm not sure if we can lose momentum anywhere, which we never had.

Blockpit expanded internationally early on. What structural barriers still make EU-wide scaling harder for Austrian fintech startups and what needs to change at the capital market or policy level? EU-wide scaling is hard in general, as you are restricted by many national rulesets (regulation, taxation, employment etc) which need to be considered in every part of your internal structure as well as the product.

This is not just true for Austrian startups but for everyone trying to expand into multiple markets - it is way easier to address the same market size in the USA (450mio vs 350mio) which mostly harmonized these topics across 50 states.

Austria is often seen as relatively crypto-friendly, yet EU regulation is tightening rapidly. Over the next five years, will regulation become a competitive advantage for Austrian startups or a structural growth constraint?

It depends on the business model - if regulation can be integrated as a product feature, certain markets will be made accessible, which are blocked for others (especially AI-blackboxes).  Especially in the fintech and compliance sector, it is very important where your company is based and if legal action can be taken against you if you do not fulfill your obligations.

If you had EUR 1 Mio to deploy as an investor in Austria right now, which sub-sector within blockchain or fintech would you back and why?

Anything that is "AI-resistant", meaning the business model cannot (in my current view) easily disrupted by AI - or on the other side, idea stage startups by serial entrepreneurs which plan to heavily leverage AI in all parts of their workflows.

With the first EU-regulated stablecoin emerging under MiCA, do you see this as a breakthrough moment for Europe’s digital asset sovereignty, or will US-dollar-backed stablecoins continue to dominate in practice? What does this mean for Austrian startups and investors?

USD-backed stablecoins will definitely continue dominating global liquidity due to network effects (they have a "long" history in crypto and are integrated as the base for liquidity pairs everywhere). However, MiCA-regulated euro stablecoins are strategically important for European institutional adoption and regulatory clarity. The breakthrough is less about market share and more about credibility and infrastructure. Austrian startups should focus on enabling compliant usage rather than competing on currency dominance.