Bitcoin Suisse to Relocate Zug Jobs Abroad in Global Wealth Management Pivot

Bitcoin Suisse, one of the pioneers of Switzerland's Crypto Valley, is preparing to relocate up to half of the jobs at its Zug headquarters abroad as it pivots from a Swiss crypto specialist into a global wealth manager.

According to an interview with Finews, the company will move as many as 60 positions overseas, with back-office and administrative roles hit hardest. Those functions are set to shift to Bratislava, Slovakia, or to Vietnam, where the firm plans to build out a new location in the coming years.

Bitcoin Suisse employees were briefed at a town hall Friday morning, and the exact number of cuts will be finalized after a 10-day consultation, though Bitcoin Suisse told Finews the first layoffs will take effect before year's end.

Founded in 2013, Bitcoin Suisse built its name on crypto trading and custody before expanding into staking and lending. Now it wants to serve wealthy private clients, family offices and institutional investors with services that reach beyond crypto.

"In the past, our focus was primarily on Switzerland. Now, international growth is our priority," Group CEO and co-founder Andrej Majcen told Finews, adding that the firm aims to leverage its crypto expertise into broader wealth and asset management.

The company has been laying the regulatory groundwork, securing a MiCAR license in Liechtenstein, digital-asset and investment licenses in Bermuda, and full approval from Abu Dhabi's regulator over the summer.

Majcen told Finews the relocation is driven by cost, saying the same services can be delivered far more cheaply in Bratislava and Vietnam, and stressed it wasn't tied to the current crypto downturn, which he said the firm has ample cushion to weather.

He said Zug will remain the headquarters and the Bitcoin Suisse name will stay, with the company still open to acquisitions in Switzerland.