Why Switzerland for blockchain companies

The Swiss authorities are progressive, pragmatic and committed to building a blockchain-friendly regulatory framework. In February 2018, the national financial market authority, FINMA, became the first regulator in the world to publish clear guidelines on ICOs. The guidelines recognize the innovative potential of blockchain technology, clarify the application of financial market legislation in handling enquiries from ICO organizers and classify tokens issued during ICOs based on their economic function. In May 2018, the Geneva cantonal authorities released the very first guide dedicated to supporting ICO project promoters.

In August 2021, the DLT Framework came into effect, making Switzerland one of the world’s most forward-thinking countries in terms of legislation. It provides a framework for innovative projects and new business models in the digital and decentralized world.

More than 60 companies have already used cryptoassets to either set up or inject fresh capital into their enterprise in Switzerland. The first one was IndéNodes, a company that mines tokens on the Komodo blockchain system. In December 2017, the founders of IndéNodes used bitcoins instead of Swiss francs to cover the minimum capital requirements to launch their company.

Home to leading international organizations and to one of the world’s most advanced blockchain ecosystem, Switzerland is the place to be for associations and global bodies involved in shaping the future of blockchain technology. These include the Crypto Valley Association, the Capital Markets and Technology Association, the Global Blockchain Business Council, the Swiss Association of Crypto Investors and the Swiss Blockchain Association.

Switzerland’s stock exchange is building SIX Digital Exchange, the first market infrastructure in the world to offer a fully integrated trading, settlement and custody service for digital assets. The first services will be rolled out in mid-2019. The new service will provide a safe environment for issuing and trading digital assets, and enable the tokenization of existing securities and non-bankable assets to make previously untradeable assets tradeable.

Western Switzerland boasts a comprehensive network of blockchain-savvy service providers, from banks and law firms, to accounting, audit and tax experts. The GGBa works with a number of law firms including ID EST, Leax Avocats, OA Legal, Bonnard Lawson and Walder Wyss. It also collaborates with commercial and private banks offering services to blockchain clients.

The GGBa relies on a pool of competent and experienced advisors and consultants, who are specialized in blockchain and DLT projects, as well as marketing and event planning. Among them are the eBusiness Institute, InnMind, and Swiss Crypto Advisors.

Western Switzerland’s innovation infrastructure supports the development of blockchain ventures from the very early stages. Bordier Finlab, Fongit, Fusion’s Blockchain Lab, and Y-Start offer seeding, incubation and acceleration programs to foster the growth of blockchain products and start-ups. At Coworking Neuchâtel, like-minded entrepreneurs can work and network in a blockchain-driven environment.

The offering of higher education in Western Switzerland is of an exemplary standard, fostering talent and skills for innovation. The University of Geneva and the CREA School offer continuing education programs in blockchain and DLT. The Center for Digital Trust (C4DT) combines EPFL’s renowned expertise in cybersecurity, sensitive data protection and blockchain and smart-contracting technology with the capabilities of 12 institutional and industrial partners.

Western Switzerland is home to a dynamic business community comprised of around 1,128 companies — and counting. Among them are well-established cryptofinance platforms, promising start-ups and renowned large players. More and more high-tech industrial companies choose Western Switzerland to carry out their ICO or STO.

Switzerland bustles with events and conferences to complement and enhance the day-to-day business of its dynamic blockchain community. The country regularly hosts internationally renowned blockchain events, such as the Blockchain Leadership Summit, the Crypto Finance Conference, the Crypto Summit, and the Geneva Annual Blockchain Congress. Informal meetups are organized all year round by Fusion, InnMind, the Western Switzerland Chapter of the Crypto Valley Association, and many others.