Switzerland is becoming a home to technology businesses and crypto companies. It is slowly emerging as a hub for entrepreneurship and investment, especially for digital currencies.
To promote the ecosystem of digital currencies, the Swiss Government has established, Crypto Valley, a dedicated zone for crypto-related companies and platforms. The zone is located in Zug, a small quiet town surrounded by mountains near Zurich. The town has a population of mere 30,000 residents.
Crypto Valley is founded by Bitcoin Suisse, Bussmann Advisory, iprotus, Lucerne University of Applied Sciences and Arts, Luxoft, Monetas, and Thomson Reuters
The Crypto Valley Association is an independent, government-supported association established to take full advantage of Switzerland’s strengths to build the world’s leading blockchain and cryptographic technologies ecosystem. It was started by Johann Gevers, who thought Zug to be the best place for digital trading.
One of the major reasons big companies are investing in this zone is the low tax rate. Crypto Valley charges just 14% corporate tax, which is one of the most business-friendly policies of the region. The tax relief has attracted popular multinationals to set up their operations in Zug, such as Johnson & Johnson, Shire, and AstraZeneca.
The Crypto Valley Association also supports and connects startups working in blockchain technology. It also ensures its involvement in the global efforts for the advancement of crypto technologies by actively participating in similar hubs around the globe.
The zone has a major lab, called Crypto Valley Labs, which is used as a co-working space by startups. Founded in 2018, there are over 40 paying startups that utilize the space when they are in the town of Zug. A Bitcoin ATM has also been deployed in the cafe of Crypto Valley Labs.
Crypto Valley comprises of a vast community of crypto start-ups which are supported by the following partners:
- Bitcoin Suisse
- MME Legal
- Digital Finance Compliance Association
- Bitcoin Association of Switzerland
- Lucerne University of Applied Sciences and Arts
- Switzerland Global Enterprise
- Swiss Financial Market Supervisory Authority
- Swiss Federal Government
Today, more than 400 companies operate in the Crypto Valley that has been titled as the world’s best ecosystem for crypto technologies and businesses.