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Swiss Crypto valley increased to 750 companies, despite the "crypto-winter"

The number of companies in the Swiss Crypto valley has grown to 750

A new study shows that the cluster of companies working with digital currencies and associated technologies in the Swiss Crypto valley has increased despite the onset of what has been dubbed as “crypto winter". Currently, the valley occupies a large area in the Alpine Confederation, and some companies located in neighbouring Liechtenstein.

The fall in the value of digital assets has affected a major crypto and blockchain companies with offices in Switzerland and Liechtenstein. According to the report compiled by the investment company Crypto Valley Venture Capital (CVVC), PwC, Strategy& and the Swiss consulting company Inacta, in the first quarter of 2018, the total cost of the 50 most popular cryptocurrency has dropped from 44 to 20 billion dollars.

At the same time, the number of companies operating in the cryptocurrency space in the Crypto Valley increased by about 20% — from 629 to 750. In other words, in the fourth quarter of 2018 more than 120 new crypto organizations were registered. These include the most recognizable enterprises in the industry, including startups-"unicorns", the cost of each of which is billions of dollars.

The study authors calculated that the cost of each of the top 50 companies an average of $ 400 million. After subtracting the five largest companies revealed that the average cost still accounts for about 365 million dollars, which indicates low concentration. The study also showed that four of the organization ― Ethereum, Dfinity, Cardano and Bitmain — have cost more than one billion dollars each. At the same time, the average score of all 750 companies of approximately $ 27 million.

50 largest companies, whose offices are located in Switzerland and Liechtenstein, employs about 480 people, and the total number of people in the sector ― more than 3,300. These and other figures in the study indicate that the current situation is the usual for many organizations, despite the fall in the market value of most cryptocurrencies.

The researchers also found that the Crypto valley geographically expanding. More than 51% of the companies are based in Zug, the rest are located in other Swiss cantons. According to the data collected, 42 businesses registered in Geneva, 39 ― in Ticino, 38 ― in Liechtenstein. The location of all these crypto-startups can learn using online maps from CVVC.

Switzerland, Liechtenstein, Malta, Gibraltar, Estonia and the Isle of Man part of a group of European jurisdictions, who creating a favorable environment for the development of crypto-business. The expansion of the Swiss Crypto Valley has been facilitated by the country’s decentralized political system and strong traditions in providing financial privacy. For example, in December last year, the government in Bern adopted a comprehensive strategy for the development of the crypto sector.


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