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BLOCKCHAIN ENJOYS RAPID GROWTH IN SWITZERLAND’S CRYPTO NATION

  • Swiss blockchain sector is enjoying rapid growth within the crypto nation
  • The sector has grown from 350 companies to over 600 in the past year
  • the combined market capitalisation is $44 billion

THE Swiss blockchain industry is enjoying rapid growth with over 600 companies now located in the “crypto nation” and neighbouring Liechtenstein.

The news of the expanding infrastructure has been revealed following the compilation of the 50 top blockchain companies in the “crypto valley” by investment company Crypto Valley Venture Capital.

CV VC reveals that Blockchain companies employ around 3000 people in Switzerland and Liechtenstein.

The blockchain based companies have a combined market capitalization of US$ 44 billion.

Included among the top 50 are five unicorns – start-ups with a market valuation of over a billion dollars.

The 600 blockchain-related companies in Switzerland and Liechtenstein are registered on CV Maps, an online directory of the blockchain industry created and maintained by CV VC.

The Top 50 companies have a very strong capital base, especially compared to other startups. Many of them have funding in the tens or hundreds of millions.

Five Blockchain Unicorns are either based in or have originated from the Crypto Valley: Bitmain, Cardano, Dfinity, Ethereum and Xapo.

“The Top 50 report shows that Crypto Valley has retained its appeal as a location for blockchain companies from all sectors,” said Ralf Glabischnig, founder and managing partner of information management firm inacta, which built a database.

The new information provided by CV Maps sheds light on the rapid growth rate of Crypto Valley. At the time of its April 2017 launch, the online directory contained 350 companies.

The term ‘Crypto Nation’ was coined by Swiss Economics Minister Johann Schneider-Ammannexternal link during a conference in St Moritz in January 2018.

The top five blockchain companies in the top 50external link listed by CV Maps are PickioChainexternal linkVetriexternal linkMedicalchainexternal linkEtheriscexternal link, and Decentexternal link.

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