With a strong ecosystem of companies, investors, and regulators, Switzerland has emerged as a prominent hub for blockchain and cryptocurrencies. The country’s excellent regulatory environment, stable political climate, and robust financial infrastructure have made it an appealing destination for both blockchain startups and investors.
Switzerland has established itself as a global leader in the blockchain and crypto arena, from the formation of the Crypto Valley Association in Zug to the launch of multiple blockchain firms and ICOs.
Leading experts share their views on the country’s natural orientation towards decentralised technologies and its leading position in the Blockchain and Crypto space.
Blockchain in the DNA
“As a strong federal structure where each canton has its own roles and specificities, decentralisation is deeply rooted in the Swiss DNA. This led to the country’s natural fit for Blockchain,” says Alexander Brunner, President at HomeOfBlockchain.swiss.
“While crypto is undeniably the most widespread use of blockchain, it is key to keep in mind the other use cases that the technology enables. This is where Switzerland keeps consolidating its position as pioneer in the field,” he further emphasises.
Building up on its strengths and expertise in banking and financial services, Switzerland is now leading the way in the digitization and tokenization of financial assets such as bonds or stocks, creating new financial infrastructures. In other industries such as pharmaceutical and luxury goods, large corporations are running pilots and experimenting with NTFs.
According to Mr Brunner, the Swiss culture favouring responsible, sustainable innovation plays a key role in the country’s attractiveness as a hub for blockchain and crypto related activities.
“Switzerland has a thriving ecosystem at the forefront of innovation which brings multinationals, large financial institutions and start-ups under one roof. If you are looking at a regulated, approachable environment, Switzerland is a good place to start,” says Brunner.
After developing strong relationships with the US and Southeast Asian markets, HomeofBlockchain.swiss now looking at building a similar relationship with the Middle East.
“In the way that Switzerland is a gateway to Europe for foreign investors, we wish to find our gateway to the Middle East. We are keen to work with local public and private organisations that can help us build this bridge between the two markets,” he concludes.
Following in the steps of the first big successful ICO
The setting up of the Ethereum Foundation in the Swiss canton of Zug was the first big, successful ICO within the cryptocurrency industry, showcasing an innovative model that numerous projects and entrepreneurs sought to emulate.
According to the President of the Bitcoin Association Switzerland, Lucas Betschart, the Ethereum Foundation ICO raised as much money as possible and helped to shed light on the advantages of setting up shop in Zug, leading to a significant growth in the blockchain community by piquing investors’ interest to copy and paste such a successful concept.
Along with low tax rates, easy access to government and the authorities, as well as a fast and efficient process to set up, Lucas Betschart believes that one of the main advantages Switzerland offers is the strict but clear regulatory framework.
“This regulatory clarity is a real selling point for Switzerland. It’s also why we have so many traditional banks that are already offering bitcoin and crypto to their customers. Investors are confident that they’re investing in legit activities that are also audited by independent companies. Of course, like any other business these might still fail, but at least investors know they’re not being scammed,” Betschart says.
Set up in 2013 in response to the high adoption of bitcoin in Switzerland, the Bitcoin Association is a non-profit association that seeks to represent the community with the authorities, to educate people, as well as to organise networking events that bring people together especially on projects that bring about social change.
Pioneering the global blockchain industry
In the wake of the Bitcoin craze and global curiosity about the emerging blockchain and cryptocurrency technologies around 2015, the Swiss authorities were quick to sense the country’s potential as a pioneering hub in the field.
“Switzerland was the first country to come up with solutions to legitimately raise for ICO’s within the industry,” says Emi Lorincz, President of the Crypto Valley Association (CVA) and Director of Business Development at Talos.
Backed by competitive advantages such as a business-friendly regulatory environment, strong infrastructure and the certainty and stability that the country offers, – the industry has grown from mere community meetups into one of the leading ecosystems worldwide.
The Crypto Valley Association (CVA) was founded in 2017 with the mission to be the leading Blockchain and Crypto association, fostering collaboration among corporate and individual members.
As part of its role and thanks to its diverse and driven team, – the Association has been producing research papers, educational content, industry conferences strengthening its reputation nationally and internationally.
“Between 2020 and 2022, most of our events happened online due to the global pandemic,” explains Emi Lorincz. “This enabled us to increase our outreach and target a wider audience. We became a truly global association, and today more than 50% of our member base is outside of Switzerland,” she continues.
As part of its global growth, the CVA launched its Middle East Chapter in Dubai last year. Through its strong partnership with the Crypto Oasis, the Association is facilitating educational and networking opportunities for its members bringing the legitimacy of the CVA to the Middle East.
Hear more from Emi Lorincz : https://www.youtube.com/watch?v=EyPEe2QdBls
Gateway to the world fastest growing ecosystem
Based on the experience from Crypto Valley, the Crypto Oasis Ecosystem was created in Dubai in 2021 and soon became the fastest-growing Blockchain Ecosystem in the world.
“At the of 2022, we identified 1,650+ Blockchain organisations in the UAE and over 8,300 individuals working in organisations in the Crypto and Blockchain space,” jointly mention Ralf Glabischnig & Saqr M. Ereiqat, co-founders of Crypto Oasis.
The ecosystem here is growing an unprecedented rate, and offers unmatched opportunities to scale, they continue.
While the staggering growth of the ecosystem can be attributed to the UAE’s supportive regulatory environment combined with matchless access to talent and capital, the Crypto Oasis plays a key role in enabling business and entrepreneurs through thought leadership, networking opportunities and venture building, in order to secure a supportive community in a progressive regulatory environment.
The Crypto Oasis and the Crypto Valley interact in several ways to support the growth of the global blockchain and crypto industry, including partnership programs, collaboration on events, and knowledge sharing, connecting the Middle East with Switzerland, but also to other leading crypto hubs such as the US or Singapore.
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