Cryptocurrency financial services provider Bitcoin Suisse is preparing to relocate as many as half of its domestic Swiss roles to foreign countries while growing its global footprint.
Established in Zug back in 2013, the enterprise offers digital asset trading, secure storage, staking, and borrowing solutions. Based on a Friday article by Swiss financial media outlet Finews, this reorganization might impact up to 60 out of the firm’s 120 domestic jobs, focusing mostly on administrative and back-office duties.
These impacted functions will likely transfer to more affordable centers located in Bratislava as well as Vietnam, with Bitcoin Suisse intending to set up a fresh office there in the near future.
Chief Executive Officer Andrej Majcen pointed out that expenses played a major role in this decision, mentioning to Finews that running those specific departments within those two nations will be far more budget-friendly. He further emphasized that this corporate shift is not driven by any downturn in the digital asset sector, but rather forms a core piece of Bitcoin Suisse’s plan to grow globally and develop a comprehensive wealth and asset management enterprise.
Back in June, the organization announced it was moving past its domestic Swiss boundaries, setting its sights on institutional investors, family offices, portfolio managers, and affluent individuals as it transitions into an international wealth management hub.
Additionally, Bitcoin Suisse obtained regulatory authorizations in Liechtenstein and Bermuda earlier this year, and its regional branch in the Middle East secured complete regulatory clearance in Abu Dhabi during July.
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