As reported by CV VC, a venture capital enterprise, Switzerland proved its crypto-friendly status and has not reported any dramatic effects of the recent market fluctuations in crypto.
According to CV VC’s Top 50 report, there were 183 blockchain companies based in Switzerland that closed up shop in 2022. However, that number was overcome by 190 new startups and offices being created by corporates from abroad.
Furthermore, crypto experts found that the Zug-headquartered Swiss Crypto Valley currently possesses a similar number of companies as in 2021. Right now, there are 1,135 crypto-related companies operating there.
In total, these companies have 5,766 employees in total. Compared to the period prior to the crypto winter, the workforce is approximately 4 per cent lower.
The area of Switzerland and Liechtenstein displays a serious and even company distribution. While platforms represent the majority of Top 50’s names, fintech importance must not be overlooked. The report points to a rise in trading and exchange services numbers happening at the same time, without overlooking the increasing distinction of crypto banks.
The Top 50 report shows that the Swiss Crypto Valley is a welcoming environment for individuals who develop infrastructure related to ID management and for those invested in improving operations in sports, arts, and media.
According to research findings, the country represents a great model of a government based on consensus; Switzerland also displays an innate proclivity toward decentralization.