In the Crypto-Valley in Switzerland, the number of blockchain companies is growing. Currently, there are 960 companies that use, develop and promote blockchain technology. These companies employ more than 5100 people, according to the latest CV VC Top 50 Report from February 2021.
Crypto Valley: more and more companies are setting up shop
Crypto markets continued their dramatic rise in early 2021. The valuation of the top 50 companies in Crypto Valley increased by 680 percent to $254.9 billion. The Valley now counts 11 so-called Unicorns (projects valued at more than $1 billion), up from 6 in the previous report.
Prominent newcomers among crypto companies are Solana, 21Shares, SwissBorg, Curve Financial, Oxygen, Enzyme, and Maps.me. They are all new additions to the Crypto Valley Top 50 list.
Reasons for Zug as a location
The founding of Crypto Valley in Zug, Switzerland, of all places, was no coincidence but had its reasons:
- Friendly regulatory environment.
- Network effects and scalability.
- Attraction point of the world’s best talent.
- Opportunities to build solid capital pools and a rich ecosystem of resources and expertise for startups.
- Cultivating an entrepreneurial culture, contagious energy, and strong relationships of trust that make the impossible possible.
It was Johann Gevers who initiated Crypto Valley. He had recognized that Switzerland was suitable for building a new generation of decentralized technologies. With its decentralized, citizen-controlled political system, its centuries-old culture of individual rights, the country offers the best conditions for innovative projects.
Gevers moved to Zug in July 2013 with his cryptofinance startup Monetas. He defined the vision for Crypto Valley as a global center for crypto technologies modeled after the successful Silicon Valley. He began building the Crypto Valley ecosystem. He was helped by supportive relationships with the authorities. The Federal Council wants to further improve the conditions for blockchain, according to the Federal Department of Finance.
Founding of the Crypto Valley Association
In January 2017, the “Krypto Valley Association” was founded as a professional organization. The goal: to accelerate and coordinate the further development of Krypto Valley into the world’s best ecosystem for crypto technologies. Today, renowned companies and government institutions are strategic partners of Krypto Valley. For example, the University of Zurich, ETH Zurich and INATBA. Crypto companies from America, England and around the world are also open to settle in the Valley. American and also English companies are at the forefront in terms of blockchain technology.
Regular Crypto Valley conferences
For a few years now, the Crypto Valley Conference has been held on a regular basis. Insiders and representatives from startups, companies, universities and governments discuss the current state and future of blockchain technology. Research and industry exchange ideas. The conference director is Prof. Dr. Alexander Denzler, blockchain researcher at the Lucerne University of Applied Sciences and Arts. He predicts a positive and great future for blockchain. “Blockchain technology is transparent, decentrally organized and tamper-proof. It creates trust – something that is currently lacking in the digital world,” says Denzler.
Next conference Oct. 28-29, 2021
The 4th edition of the “Krypto Valley Conference” will take place in Rotkreuz, Switzerland, from October 28 – 29. Two days of in-depth discussions on the current state and future of blockchain technology. The following program awaits attendees:
- 40+ presentations from global industry leaders
- Topics from the fields of technology, business & finance, and law & regulation
- Top selection of research papers to be presented in the Academy track
- Attendees from startups, corporations, universities and governments
- Companies showcasing their latest products and services in the gold sponsorship track
- Panel discussions live on stage
Blockchain technology is transparent, decentrally organized, and tamper-proof. It creates trust.Prof. Dr. Alexander Denzler, director of the Crypto Valley Association and head of the Blockchain Lab at the Lucerne University of Applied Sciences and Arts.
Eight hotspots in Crypto Valley
Switzerland’s Crypto Valley is concentrated in eight hotspots. With 425 companies, about half of all crypto companies are based in the canton of Zug. The other seven hotspots are the cantons of Zurich, Geneva, Ticino, Vaud, Lucerne and Bern.
The number of companies in Liechtenstein doubled to 80 in the second half of 2019. With nearly 1000 companies, Crypto Valley has become more mature and stable. Major platforms, companies and projects are attracting to Switzerland and Liechtenstein. There is for example VISA with crypto on the way. Fully regulated global crypto banks can also now be found in Germany (NURI for example) or in Crypto Valley. Sygnum Bank and SEBA Bank have been approved by the Swiss Financial Market Supervisory Authority (FINMA). Bitcoin Suisse has also applied for a banking license.
The crypto-friendly banks
Various banks belong to the category of “crypto-friendly banks.” However, banks are not the only ones involved in this development. Other sectors of the financial industry also fall into this category.
- Bank Frick
- Mason Bank
- Maerki Baumann
- InCore Bank
- Bank Reyl
- Crypto Finance
- Bitcoin Suisse
- Algo Trader
Joining forces in crypto-valley
Partners for projects like Tezos are investment banks and real estate investors from the securitization and real estate transaction sectors. SIX Group’s digital exchange initiative “SDX” is conducting tests for digital infrastructures for the settlement of securities transactions together with the Swiss National Bank.
The major bank UBS has confirmed that it is closely monitoring projects around tokenization. This should be seen as evidence of the strength of the Swiss blockchain network. In addition to crypto traders and crypto banks, larger tokenization projects are also attracting attention. The high level of activity in the blockchain sector, even among traditional Swiss industrial companies, makes the development so interesting.
Crypto Valley Conference October 28 - 29, 2021Tickets are available at an "Early Bird" discount.The 4th edition of the "Krypto Valley Conference" will take place from October 28 - 29 in Rotkreuz, Switzerland. Interested visitors can secure tickets directly on the Krypto Valley Conference website.