Crypto Valley continues to grow
The number of blockchain companies in Crypto Valley rose to 842 in the second half of 2019, finds a new report. In Liechtenstein, the number of companies even doubled. With the digital currency exchange Bittrex, Liechtenstein was able to list an important international addition.
Crypto Valley Venture Capital (CV VC) teamed up with Strategy&, IT consulting company inacta AG and Cointelegraph to produce a new report on Crypto Valley. It reviews the most important blockchain companies in Crypto Valley, which include the blockchain cluster in Switzerland and in Liechtenstein.
According to the report, the number of blockchain companies in Crypto Valley rose from 810 to 842 in the second half of 2019. Together, these companies employ over 4,400 people. Crypto Valley consists of eight hotspots. As the report reveals, Zug hosts more than half (425) of the companies listed, followed by the cantons of Zurich (139), Geneva (45), Ticino (42), Vaud (27), Lucerne (16) and Bern (14). The number of blockchain companies in Liechtenstein doubled in the past six months to reach 80.
In the second half of 2019, Crypto Valley was able to add new companies to its list, including Bittrex (Liechtenstein), CasperLabs (Zug) and Libra (Geneva), demonstrating that the region remains attractive for global crypto companies. With Bittrex, Liechtenstein was able to list one of the most important new additions. The cryptocurrency stock exchange expanded its digital currency exchange platform to Liechtenstein last year. When announcing the move last summer, Bittrex CEO Bill Shihara praised the legal security for blockchain companies in Liechtenstein, explaining that the Liechtenstein government is pursuing “a very proactive approach to foster innovation in blockchain”.
Crypto Valley is also now home to five unicorns, companies that are valued at $1 billion or higher: Ethereum, DFinity, Polkadot, Bitmain and Libra. Three other unicorn contenders – Tezos, Cardano and Cosmos – have been identified. “The latest figures from the CV VC Top 50 Report show that Crypto Valley with its 842 companies has become more stable and mature,” said Mathias Ruch, founder and CEO of CV VC, adding that Switzerland and Liechtenstein remain attractive in such a way that important companies, platforms and projects are coming to the region.