A new co-working space has been launched in Liechtenstein to support blockchain startups. House of Blockchain is an initiative of Aeternity, an open source, blockchain-based distributed computer platform, and aims to attract blockchain-focused businesses that are looking to scale.

House of Blockchain will support teams and startups developing decentralized applications with guidance and support from industry experts. One of the first projects to move into the space is Chainium, an equity crowdfunding platform.

Aeternity founder Yanislav Malahov said:

“We are thrilled to officially launch Liechtenstein’s House of Blockchain and sincerely look forward to watching numerous projects come to life under the one roof. Today’s announcement is another important step in our mission to become the enablers of innovation, helping to extend the reach of blockchain technology both in Liechtenstein and on a global stage. “A blockchain-friendly environment with swift and direct contact with regulators, Liechtenstein is an ideal location for our House of Blockchain.”

Founded in 2016 by Malahov, the “Godfather” of Ethereum, Aeternity is a new platform for decentralized applications. The project focuses on increasing the scalability of smart contracts and decentralized applications. Scalability is accomplished by moving smart contracts off-chain.

The launch of House of Blockchain comes in line with Liechtenstein’s desire to become a blockchain hub. Earlier this year, Liechtenstein’s crown prince said cryptocurrencies were “something to look into more into the future,” but admitted the principality does not currently have the “internal expertise to do that [invest] directly.”

Speaking to CNBC, Prince Alois said he was interested in the way blockchin could be used as a way of improving administrative tasks in the country.

“Blockchain will change a lot of things. It could even help make our state more efficient the way it is administered,” said Liechtenstein’s Crown Prince.

The country’s prime minister stated last month that the government was looking to introduce comprehensive blockchain legislation to create a legal framework that’s conclusive to innovation and light on regulation.

In February, Bank Frick became the first financial institution in the country to offer trading of five cryptocurrencies, namely Bitcoin, Bitcoin Cash, Litecoin, Ripple and Ether, as well as offline storage.