Switzerland and Liechtenstein remain attractive jurisdictions for blockchain projects. Capitalization of startups in the special economic zone Crypto Valley exceeded $600 billion.
A report by Crypto Valley Venture Capital (CVVC) notes that the combined value of the top 50 blockchain companies in the zone
Crypto Valley increased by 4.6 times, reaching $ 611.8 billion. The total number of cryptocurrency firms grew by 18%, to 1128. According to experts, the number of jobs increased by 16%, with about 6000 employees working directly in local crypto and blockchain companies, as well as several thousand interact with them remotely.
The researchers note that in 2021, the number of “unicorns” (startups with a market capitalization above $1 billion) in Crypto Valley almost doubled to 14, including hectocorn ($100+ billion) and three decacorns ($10+ billion).
The “heart” of Crypto Valley remains the city of Zug, where 528 out of 1128 registered blockchain companies are present. It is followed by Zurich and other clusters in Liechtenstein, Geneva, Ticino, Vaud and Neuchâtel. Notably, more than half of all Swiss cantons have 10 or more blockchain firms.
Analyzing the reasons that have beneficially affected the overall picture and business situation in Crypto Valley, CVVC highlights friendly and progressive legislation in the field of regulation of the cryptocurrency industry. In 2020, Switzerland enacted the DLT law, which created the legal basis for the issuance of digital securities and the licensing of digital asset trading services.
As the global financial sector sees a significant increase in interest in digital assets from traditional investors, the advantages of the regulatory framework of Switzerland and Liechtenstein allow the creation of business models that are not possible in other jurisdictions.
The idea of creating Crypto Valley originates in January 2014, when the founder and CEO of the blockchain platform Monetas first began to promote the idea of Zug as a global center for the incorporation of blockchain companies. During a meeting with representatives of the projects, the name “Crypto Valley” was coined. Three years later, in January 2017, the Crypto Valley Association was created to coordinate and scale.
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