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Crypto Valley grows rapidly

Crypto Valley is growing in importance as a blockchain hub. The top 50 blockchain companies in the region already have a combined market capitalization of 44 billion dollars, reveals a new report.

Crypto Valley
(Image credit: Zug Tourismus)

Crypto Valley’s top 50 blockchain companies have been named in a ranking for the first time, with their combined market capitalization calculated at 44 billion dollars. The ranking was compiled by the consulting firm PwC, CV VC, an investment firm from Zug, and inacta.

Five blockchain unicorns, or companies valued at more than one billion dollars, feature in the top 50 – Bitmain, Cardano, Dfinity, Ethereum and Xapo. There is also a strong capital base, according to the statement, particularly in comparison with other startups. Companies in Crypto Valley, including Tezos and Dfinity, have raised investment in the double-digit millions.

At the same time, Crypto Valley contains a large subset of the blockchain industry, from health tech to data analytics and e-government. The areas of broker, trades & exchange and platform & protocol are also strongly represented.  

"The Top 50 report shows that Crypto Valley has retained its appeal as a location for blockchain companies from all sectors," commented Ralf Glabischnig, founder and managing partner of inacta, which built the CV Maps blockchain sector database.

Daniel Diemers of PwC added: "Crypto Valley has grown enormously in just three short years. Even two or three years ago, there were just 10 to 15 companies in the blockchain industry.”

According to the report, there are more than 600 blockchain companies in Switzerland and Liechtenstein employing around 3,000 people.

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