Bitcoin Suisse Abandons Crypto Focus, Relocates Half of Swiss Jobs
Bitcoin Suisse, one of Switzerland's pioneers in Crypto Valley, is shifting its focus from crypto to global wealth management. The company plans to relocate up to half of its jobs at its Zug headquarters abroad, impacting around 60 positions, mostly back-office and administrative roles.
The move will see these functions shift to Bratislava or Vietnam, where the firm aims to build out a new location in the coming years. CEO Andrej Majcen explained that the decision is cost-driven, not tied to the current crypto downturn, and that Zug will remain as headquarters with the name unchanged.
The company has been laying the regulatory groundwork for this pivot, securing licenses in Liechtenstein, Bermuda, and Abu Dhabi. Majcen emphasized that the same services can be delivered far more cheaply in Bratislava and Vietnam, allowing the firm to focus on serving wealthy clients, family offices, and institutions with services beyond crypto.
The first layoffs are set to take effect before year's end, following a 10-day consultation period. Bitcoin Suisse employees were briefed at a town hall meeting, where they were informed of the plans.