Zug based investors CV Venture Capital announced a new report stating that the current worth of the blockchain companies located in the Crypto Valley, Switzerland, is over €38 billion combined. The uprising industry is employing over around 3000 people in the small country located in the heart of Europe, and it is attracting more and more companies and blockchain enthusiasts around the globe.
In the top 50 Swiss crypto firms is included 5 start-up companies with the estimated value of over 1 billion euros.
According to the report of CV, Five of the companies ranked on the 50 top companies list are based either in Crypto Valley or nearby the area; including the biggest bitcoin miner in the world – Bitmain and other leading businesses of the industry, such as Ethereum, Cardano, Xapo and Dfinity.
During the past year, the amount of blockchain and cryptocurrency related companies has nearly doubled to amount of around 600 companies – from last year’s report with 350 companies.The given number in the report includes businesses that are operating in the neighbour country, Liechtenstein.
The top group of crypto firms in Zug are employing 440 people – most of them being expatriates. Giving the fact of the market value being more than €38 billion, it’s obvious that the companies operating in the Switzerland’s crypto nest are very well-funded. As CV said in the report, the level of capital usually increases “into the tens and hundreds of millions of dollars” for most of the companies.
CV Venture Capital is a Zug based investor and incubator paying extra focus on blockchain technology. The company partnered with accountants Inacta and PwC Strategy for the list of top 50 companies in Crypto Valley based on the data from CV Maps, media sources, numerous crypto exchanges and social media platforms.
Author: Sarah Tuuli