Bitcoin Suisse to Cut Up to 60 Zug Jobs Abroad — SkimNews
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- Bitcoin Suisse plans to relocate up to 60 positions—nearly half its Zug headquarters staff—mostly back-office and administrative roles, to Bratislava, Slovakia, or Vietnam, with the first layoffs taking effect before year's end.
- CEO Andrej Majcen framed the move as a strategic pivot toward wealthy private clients, family offices, and institutional investors, backed by new licenses secured in Liechtenstein (MiCAR), Bermuda (digital-asset and investment), and Abu Dhabi (full regulatory approval over the summer).
- Majcen said the relocation is cost-driven, not tied to the current crypto downturn, insisting the same services can be delivered "far more cheaply" abroad and that the firm has "ample cushion" to weather weak markets.
- Bitcoin Suisse employees were briefed at a Friday town hall, with the exact cut count to be finalized after a 10-day consultation period.
- Bitcoin Suisse will keep its Zug headquarters and corporate name unchanged and remains open to acquisitions in Switzerland despite the offshore shift.
- Founded in 2013, Bitcoin Suisse built its reputation on crypto trading and custody before expanding into staking and lending, and now aims to leverage that expertise into broader wealth and asset management.
Why it matters: Bitcoin Suisse—one of Crypto Valley's pioneers—is shifting up to 60 back-office jobs from costly Zug to Bratislava and Vietnam, even as crypto markets stay soft. With the firm simultaneously opening new regulatory doors in Liechtenstein, Bermuda, and Abu Dhabi, the move reframes Switzerland's appeal: regulatory prestige is no longer enough to offset its labor costs for a crypto firm scaling internationally.
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