Expertise

Attracting Companies from Around the World with Favorable Regulations and a Pro-Innovation Stance

Switzerland has become a leading destination for blockchain and cryptocurrency companies, attracting firms from around the world due to its favorable regulatory conditions. Companies like 21Shares, Hedera Hashgraph, Novartis, Lugano City administration, Provenance Proof, NYM Technologies, Origyn, Dfinity and Wecan Group all have established presence in the country. Find out more in our overview.

supercomputer in lugano

The digital asset provider 21Shares evaluated over 25 jurisdictions before opening its global headquarters in Switzerland due to the beneficial regulatory conditions. In 2018, it pioneered the world’s first cryptocurrency index listing on the SIX Swiss Exchange. 21Shares is registered in Zug and has recently opened a large office in downtown Zurich with over 100 employees.

The blockchain public ledger platform Hedera Hashgraph with headquarters in Texas, USA, wants to ramp up the worldwide launch of its network out of Switzerland. Hedera has established the Swiss Hashgraph Association in the Greater Zurich Area, in Pfäffikon, and earmarked US$16.3 million worth of grant funding. Its purpose is the delivery of a global Hashgraph Innovation Program in a strategic partnership with the Swiss Digital Assets Institute (SDAI), a professional training and education company.

The Basel-based pharma multinational Novartis has set up its PharmaLedger project to explore potential applications of blockchain technology in the medical industry. The first application is to provide patients with electronic medical leaflets. PharmaLedger was initiated under the EU’s Horizon Europe program and has close to 30 member organizations.

In recent years, the administration of the City of Lugano has implemented blockchain-based solutions including the “LVGA” payment token to support local SMEs and the non-profit 3Achain blockchain infrastructure. In March 2022, it launched “Lugano’s Plan B” in collaboration with stable coin leader Tether (USDT).

In 2019, Provenance Proof was proud to announce the very first blockchain-based platform that aims to unveil the journey of every gemstone from rough to finished to the industry. In the same year later, Provenance Proof was established as an independent subsidiary under the House of Gübelin in the canton of Lucerne to serve as a neutral party providing the third-party confirmed transparency within the gems and jewelry industry.

A vivid and committed ecosystem has been growing in the canton of Neuchâtel since 2014, particularly aiming at fostering solutions for the industry while relying on the canton’s core manufacturing capabilities in the production of reliable products. Some flagship companies include NYM Technologies (a blockchain allowing real privacy on Internet networks), Origyn (NFTs solutions for the authentication of luxury products, watchmaking and art), or Dfinity with its operational headquarters in Neuchâtel.

Wecan Group is a blockchain company based in Geneva with strong international growth. A leader in decentralized network to enhance regulatory processes, the company has more than 100 clients, among them renowned financial institutions, private banks, and external asset managers.

 

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Do you want to know more about blockchain in Switzerland? Circle back to our blockchain homebase or download our factsheet.

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