Bitcoin Suisse to cut up to 60 Swiss jobs in overseas shift

Bitcoin Suisse, a pioneer in Switzerland's Crypto Valley, is preparing to move as many as 60 jobs from its Zug headquarters to overseas locations, primarily Bratislava, Slovakia, or Vietnam. The company is shifting its strategic focus from being a Swiss crypto specialist to a global wealth manager, aiming to serve wealthy private clients, family offices, and institutional investors with a broader range of services beyond cryptocurrency. The affected positions are mainly in back-office and administrative functions. CEO Andrej Majcen indicated that the relocation is driven by cost efficiencies, stating that the same services can be provided more affordably in Bratislava and Vietnam. He emphasized that the move is not a reaction to the current crypto downturn, which the firm is well-positioned to withstand. Zug will remain the company's headquarters, and its name will be unchanged. Bitcoin Suisse has been actively securing new regulatory licenses, including a MiCAR license in Liechtenstein, digital-asset and investment licenses in Bermuda, and full approval from Abu Dhabi's regulator. Employees were informed of the planned changes, with the first layoffs expected before the end of the year, following a 10-day consultation period.