Bitcoin Suisse Slashes Swiss Workforce in Global Expansion Bid

Bitcoin Suisse, one of the pioneering names in Swiss crypto, is undergoing significant restructuring. The Zug-based company will slash up to 60 positions in Switzerland as it shifts operations to cheaper locations overseas.

The cuts represent roughly half of Bitcoin Suisse's 120-person Swiss workforce, with affected employees including those in back-office, administrative, and software development roles.

The company is consolidating these roles into hubs in Bratislava, Slovakia, and a newly established office in Vietnam. Its IT development office in Copenhagen will also close.

CEO Andrej Majcen framed the restructuring as an 'offensive play' rather than a defensive one, stating it's about international growth, not a reaction to crypto market conditions.

Bitcoin Suisse was founded in 2013 and operated primarily as a Swiss crypto specialist. However, it now wants to be a regulated global wealth manager targeting high-net-worth individuals and institutions.

The company manages over $3 billion in digital assets under custody, with roughly 200 employees globally. Post-restructuring, the headcount in Switzerland will drop to around 60, though client-facing roles and the Zug headquarters will remain intact.