Founded in 2014, Ledger develops hardware wallets that allow customers to secure their cryptocurrencies, NFTs or any other crypto assets in their possession. In our interview with Sébastien Badault, VP Metaverse & Web 3, we talked about Ledger’s mission, why the company chose to set up in Switzerland and how it benefitted them.
What is Ledger’s mission?
Our DNA is security, and we strive to create a platform that makes sure that people who sell digital objects and people who buy them are secure in their transactions. We developed a hardware wallet – an actual physical product – where they can secure their crypto assets. At the beginning, customers mostly secured cryptocurrencies, but increasingly, they are also storing art objects and NFTs.
Why did you choose to set up in Switzerland?
There is a very vibrant community around crypto here, attracted by the fact that in Switzerland, there is an understanding of what crypto is trying to achieve. We felt a lot of openness in the discussions we had.
What are the structures that helped you set up in Switzerland?
We worked with the Swiss Business Hub France who helped us every step of the way. We also talked to different cantons who were all very open and excited about working with us. In the end, we decided to settle in Zurich.
Did Switzerland turn out to be the right choice?
Many things are happening around crypto in Switzerland. This confirms that we made the right choice.
What are your growth plans?
We have a B2B focus right now. There are a lot of great companies that work in Switzerland. However, further down the line, we will look into B2C as well.
What are your recommendations for foreign companies that are still hesitating to settle in Switzerland?
The level of understanding and maturity in the ecosystem is very high. For example, if you are a crypto company and need to open a bank account, you will find lawyers here that really understand how to do that, which can be difficult in other countries.
Which two words describe Switzerland best?
Stability and openness. These are the two things we’ve seen here and really appreciate.