Bitcoin Suisse, a pioneer of Switzerland’s Crypto Valley, is preparing to relocate up to half of the jobs at its Zug headquarters abroad as it transitions from a domestic crypto specialist into a global wealth manager.
According to an interview with Finews, the company will move as many as 60 positions overseas, with back-office and administrative roles bearing the brunt of the reductions. These functions are set to shift to Bratislava, Slovakia, or to Vietnam, where the firm plans to build out a new operational hub in the coming years.
Bitcoin Suisse employees were briefed on the plans during a town hall meeting on Friday morning. The exact number of cuts will be finalized after a 10-day consultation, though the company confirmed to Finews that the first layoffs will take effect before year’s end.
Founded in 2013, Bitcoin Suisse built its name on crypto trading and custody before expanding into staking and lending. Now, it aims to serve wealthy private clients, family offices, and institutional investors with services that reach beyond cryptocurrency.
“In the past, our focus was primarily on Switzerland. Now, international growth is our priority,” Group CEO and co-founder Andrej Majcen told Finews, adding that the firm aims to leverage its crypto expertise into broader wealth and asset management.
The company has been laying the regulatory groundwork, securing a MiCAR license in Liechtenstein, digital-asset and investment licenses in Bermuda, and full approval from Abu Dhabi’s regulator over the summer.
Majcen told Finews that the relocation is strictly driven by cost, noting that the same services can be delivered far more cheaply in Bratislava and Vietnam. He stressed that the move is unrelated to the current crypto downturn, stating that the firm has ample cushion to weather the market.
He confirmed that Zug will remain the headquarters and the Bitcoin Suisse name will stay, with the company still open to acquisitions in Switzerland.