Bitcoin Suisse Axes Up to Half of Zug Workforce in Cost-Cutting Drive

Swiss crypto firm Bitcoin Suisse is undergoing significant restructuring as it shifts its focus towards international expansion. According to reports, up to 50% of the company's Zug workforce will be cut in order to relocate back-office functions to Slovakia and Vietnam.

The move aims to reduce costs associated with maintaining operations in Switzerland. CEO Andrej Majcen plans to leverage new licenses in Liechtenstein and Abu Dhabi to scale Bitcoin Suisse beyond its current regional presence in crypto.

Initially focused on trading and custody, the company has expanded into staking and lending. With its latest realignment, Bitcoin Suisse seeks to reposition itself as a global asset management provider catering to high net worth individuals, family offices, and institutional investors.