Tokyo (SCCIJ) – The number of companies in Switzerland operating in the cryptocurrency and blockchain sector has more than doubled over the last four years. The country is now home to 1,680 companies in this field.
All cantons involved
According to the newly released Crypto Valley Company & Industry Report, compiled by Crypto Valley Venture Capital (CV VC), the number of blockchain companies incorporated in Switzerland and Liechtenstein grew by 132% from 2020 to 2024, representing an average annual growth rate of approximately 19%. The report tracks company growth, sector trends, geographic spread, and legal structures over a five-year period and is available here.
All Swiss cantons have blockchain companies. The original “Crypto Valley,” the Zug area, forms the nucleus, hosting 41% (719) of all companies. Zurich follows with 15% (264). Ticino (103), Geneva (85), Neuchâtel (85), and Lucerne (72) exemplify the growing intensity of national blockchain activity. Liechtenstein continues its rise, now home to 68 companies.
Zug remains popular
Zug’s share of new incorporations jumped from 35% in 2020 to 49% in 2024. Zurich’s dropped from 19% to just over 8%. The overall share of all other cantons remained relatively steady, from 46% to 43%, evidence that Crypto Valley is no longer confined to just Zug and Zurich. Mathias Ruch, Founder and CEO of CV VC, said: “The latest figures highlight how Switzerland’s Crypto Valley maintains its leading role in the global blockchain sector.”
Key to this momentum would be industry associations and innovation drivers, such as Crypto Valley Labs (CV Lab), a key player in the blockchain and Web3 ecosystem in Switzerland, CV Lab’s owner, CV VC, said. Hosting 197 blockchain companies, 11% of the entire ecosystem, CV Labs logged 38 new incorporations in 2024, a 124% year-on-year increase, far outpacing the overall Crypto Valley growth rate of 14%.
Industry demands support
Switzerland and Liechtenstein offer an ideal environment for blockchain entrepreneurs, thanks to their stable legal framework, political stability, and high quality of life. But Heinz Tännler, President of the Swiss Blockchain Federation, thinks that the industry is in a “crucial phase of international competition.”
In reaction to this challenge, the Swiss Blockchain Federation, the Crypto Valley Association, and the Bitcoin Association Switzerland published a 12-point manifesto in early May. The manifesto is a coordinated response to safeguard and advance Switzerland’s leadership in blockchain and fintech. Its 12 recommendations target reforms for policymakers, regulators, and industry leaders.
For example, the Swiss Financial Market Supervisory Authority (FINMA) should reintroduce innovation as a strategic objective and regularly report on progress. Regulations for crypto service providers, fintechs, and stablecoins must be clear, competitive, and appropriately differentiated. Licensing and authorization processes should be structured and completed within six months to reduce uncertainty for businesses.
Text: SCCIJ based on material of CV VC and SBF
