Switzerland’s Crypto Valley: 14 Unicorns

Crypto Valley reaffirms its standing as the most mature global blockchain hub with a record 2021 valuation of its Top 50 companies at over half a trillion USD ($611.8bn), boasting fourteen Unicorns.

Today's CV VC Top 50 Report 2021 (download below) shows that Crypto Valley, which includes Switzerland and Liechtenstein, is flourishing because of an exemplary regulatory jurisdiction, a determined decentralized mindset, and an all-encompassing favorable business environment.

• Top 50 valuation is $611.8bn, at Dec 31st 2021, an increase of 464% since the end of 2020 demonstrating that Crypto Valley continues to be the globally preferred jurisdiction for substantive projects and the hub of choice for disruptors who are changing the way the world interacts and transacts
• Unicorn count has nearly doubled at fourteen, including a Hectocorn ($100bn+) and three Decacorns ($10bn+)
• As a world leader in progressive regulation, Switzerland enacted its DLT law in August 2021, giving a solid legal foundation for the issuance of digital securities and establishing the globally leading license for Digital Securities Trading Facilities
• Due to the regulatory clarity, firms are racing to establish in Switzerland because they know where they stand
• Zug, with 528 companies, continues to be the epicenter of Crypto Valley which in 2021 surpassed more than 1,100 blockchain companies (1,128)
• 6000 employees work directly in crypto and blockchain companies, thousands more work for and with these companies remotely across the globe

World-first in regulatory excellence, corporate and legal talent, well-experienced service providers, crypto-friendly banks, and academic institutions, two of which are ranked in the top 10 worldwide, continue to drive Crypto Valley’s meteoric growth.

While the Top 50 list is dominated by protocols, others such as Switzerland’s regulated crypto banks, Sygnum and Seba Bank, and brokerage Bitcoin Suisse are nearing billion-dollar valuations. All had recent significant investments from some of the world’s most prolific tech VCs. Concurrently, Switzerland and Liechtenstein are witnessing cross-industry fertilization between legacy and new world financial sectors. As a result, Crypto Valley demonstrates that the bridge between the old and the new world is now a ‘two-way street’, such as Deutsche Börse Group acquiring a majority stake in Crypto Finance AG.

It is not just Crypto Valley’s Unicorn herd that highlights the valley's critical role in the global stride toward decentralization, Web3, and the oncoming fourth industrial revolution. The Crypto Valley’s booming rise is prodigious because of the balance between technical expertise, precise determination, supportive banking and business infrastructures, and having a stable regulatory environment where all participants know where they stand.

In addition to the exemplary regulatory environment,, there is a welcoming Swiss banking landscape where increasingly legacy banks, bank crypto and blockchain businesses. As a global financial center, Switzerland manages around one-quarter of the world's cross-border assets. A recent survey has shown that over 55% of Swiss banks plan to offer digital assets services over the next 1-3 years.

Such a progressive environment is a testament to why Switzerland is the only jurisdiction in the world where it is possible to incorporate a company, bank, pay taxes, and hire professional services exclusively using cryptocurrencies.

CEO and founder of CV VC, Mathias Ruch, stated: “Crypto Valley is not just a ‘place’ but, in fact, a mindset. A mindset driven by a determination to transform the way the world interacts and transacts. It is exciting to show Crypto Valley’s stable of 14 Unicorns to the world and be part of a Swiss industry valued at over half a trillion USD. Comparatively, the largest Swiss companies by market capitalization are valued at $2.2 trillion. Crypto Valley, is closing in at nearly a quarter of this and for similar reasons, both are built with precision and determination. We are also very proud of the many Soonicorns currently grazing in the Alpine hills. ”

The CV VC Top 50 Report 2021 highlights the near doubling of Unicorns, the proliferation of blockchain in the financial industry, the emergence of new asset classes such as DeFi and NFTs, and new universes building from the catalyst tech known as blockchain’.

Blockchain Audit Leader and Partner of PwC Switzerland, Adrian Keller, concluded: “We are excited to see Crypto Valley at the forefront of building trust for today and tomorrow. Switzerland’s reputation as a precise, reliable, and innovative financial center is now coupled with catalyst technological know-how, tech-savvy regulators, and a well-developed infrastructure, offering world-first transformative insight and expertise, all from the heart of Crypto Valley.”

The Crypto Valley Top 50 Report 2021 is a periodical analysis of the top 50 best-performing companies in Crypto Valley, based on market valuation, funding, and the number of employees. The report, now in its seventh edition, is produced in collaboration with PwC.

The valuations detailed in the CV VC Top 50 Report 2021 relate to the year ending 31st Dec 2021. We acknowledge that while crypto prices have since followed the decline in stocks throughout Jan ‘22 on concerns of US inflation and interest rate hikes, CV VC is confident that the industry here in Crypto Valley will remain steadfast. The activities in Crypto Valley are not only driven by crypto but also the ‘bricks and mortar’ applications of blockchain for global decentralized projects.

DOWNLOAD THE REPORT BELOW (PDF 55 PAGES)

Laurent Leloup (Consultant, conférencier, formateur)
Auteur de Blockchain, la révolution de la confiance
"La blockchain n’est pas la révolution tant annoncée, elle n’est que l’outil d’un monde lui-même entré en révolution"