Crypto Valley, which used to be just about Switzerland but now is said to also include Liechtenstein (according to this report), is now home to 1749 blockchain companies, representing a growth rate of 132% since 2022. This is according to the CV VC Crypto Valley Company & Industry Report. While Zug is still the dominant locale, Crypto Valley has expanded beyond this region.
Switzerland has long been an important banking and financial center. The advent of distributed ledger technology has propelled a new generation of financial firms looking to distrup and improve establishment financial firms. The importance of finance and advent of blockchain has now spilled over into other industries.
The report claims:
- All Swiss cantons have blockchain companies. Zug is the nucleus, hosting 41% (719) of all companies. Zürich follows with 15% (264).
- Ticino (103), Geneva (85), Neuchâtel (85), and Luzern (72) demonstrate the depth of intensifying national blockchain activity.
- Liechtenstein continues its rise, now home to 68 companies.
“The latest figures highlight how Crypto Valley maintains its leading role in the global blockchain sector,” said Mathias Ruch, Founder and CEO of CV VC.
“There is no comparable report worldwide that so comprehensively captures the evolution of a blockchain ecosystem. Our report offers insight into the forces shaping Crypto Valley and defining the future of the technology. Over the past five years, Crypto Valley has weathered global challenges, evolved, and diversified while growing at a CAGR of 18.8%. As international competition intensifies, we must continue to adapt, so that Crypto Valley remains the standard for resilience and long-term vision.”
The report also breakdown how these firms are allocated:
- Infrastructure (20%)
- Financial Services (18%)
- Consulting & Advisory (17%)
- Security, Audit & Compliance (8%)
- GameFi, NFTs & Metaverse (6%)
- Software Development (6%)
Heinz Tännler, President of the Swiss Blockchain Federation, states that the blockchain industry is not only important to Switzerland but of global strategic importance.
The ecosystem is said to be populated by corporations (55%) and LLCs (30%), which remain dominant, but diversification is growing. In 2024, associations and foundations made up over 20% of new filings.