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Xapo highlights Switzerland’s advantages

Xapo, which stores the digital currency bitcoin for its customers, has decided to move to Switzerland, citing data privacy is one of the reasons in favour of this location.

According to a Xapo statement, the alpine country has a long tradition of protecting both personal and financial privacy. This is just the first of ten reasons that Xapo outlines in “Why Switzerland?” to justify which it has decided to move from Palo Alto in California to Zurich. The country’s neutrality and direct democracy, dating back as far as 1291, are other reasons.

Switzerland’s internal stability and independence are other important considerations. As an illustration of Switzerland’s historical insulation from foreign influence, Xapo refers to the Swiss Guards, which are tasked with providing security for the pope. Protecting its own boarders and its commitment to international peace and security are further factors in favour of Switzerland.

Equally important to Xapo is that Switzerland is business friendly, making it home to the European and global headquarters of hundreds of multinational corporations. And in comparison to other potential locations, Switzerland provides all the benefits of a modern society while also being insulated from significant environmental risk.

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