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Kryptowaluty

Switzerland is now home to 13 “crypto unicorns.”

The country is a place where cryptocurrency enthusiasts, investors and entrepreneurs can meet, collaborate and develop innovative projects in the industry.

Date: 2024-02-21 Author: Marek Stiller
Switzerland is now home to 13 “crypto unicorns.”

A recent report indicates that Switzerland is now home to thirteen crypto companies worth at least $1 billion, indicating the growing popularity of cryptocurrencies in the country.

The PME report indicates that the number of unicorns in the industry has increased from 9 in 2022 to 13 in 2019. The media outlet noted that the Swiss cryptocurrency ecosystem now accounts for “4.8% of all global investments in blockchain-based companies” (up 0.7%), according to CV VC.

Blockchain companies are increasingly choosing to start operations in areas such as “Crypto Valley” in Zug. Media reports said:

“The cantons of Zug, Geneva and Zurich have attracted a combined 81% of the amount raised during 35 rounds of funding for cryptocurrency start-ups.” The report notes that there are currently 512 cryptocurrency companies in Zug alone, with 289 in Zurich and 115 in Geneva.

Dozens of crypto companies have also set up headquarters in the cantons of Ticino, Vaud, Bern, Schwyz, Lucerne and Neuchâtel. Meanwhile, neighboring Liechtenstein is also becoming a blockchain hotspot. There are 66 cryptocurrency companies operating in the country.

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The report said that the growth of cryptocurrency-related companies is stimulating the economies of both countries. Over the same period, the market valuation of the fifty largest companies in Switzerland and Liechtenstein more than doubled to $382.93 billion, CV VC reported

Switzerland has historically been one of the world’s fastest adoption hotspots for cryptocurrencies. Cities such as Lugano have begun accepting tax payments in tokens such as Tether (USDT) and Bitcoin (BTC).

The Crypto Valley project was launched in 2017. Industry advocates say Switzerland has created “the right policy and legal framework for blockchain development.” Armin Schmid, CEO of Swiss Crypto Tokens, stated in 2019:

“At the core of Switzerland’s ability to proactively develop the blockchain industry is its decentralized political system.”

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Marek Stiller
Marek Stiller
Founder of the "Cryptocurrency for Beginners" channel on YouTube. He collaborates with Łukasz to form the Arena Trading group, while at the same time being passionate about blockchain technology. His knowledge and experience in the cryptocurrency industry help beginner investors better understand this dynamic market.
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