Crypto valley venture capitalist CV VC has released a report that shows the growth rate of the Switzerland blockchain sector.
On October 10, CV VC revealed that Switzerland and Liechtenstein’s blockchain firms have a market cap of $44 billion. In addition, a total of 3000 people work for these blockchain firms. The report went further to list the top 50 blockchain firms in Zug and Liechtenstein. It would seem that Switzerland’s blockchain sector considers Liechtenstein an extension of its sector.
CV VC partnered with PWC Strategy& Switzerland and Inacta to register blockchain firms on a directory called CV Map. And the directory shows that there are currently 600 blockchain firms registered in Switzerland and Liechtenstein. As such, these regions have enjoyed significant growth since last year’s figure was 350.
The Top 50 Switzerland Blockchain Firms In the Crypto Valley
CV VC revealed that blockchain firms had to meet three criteria before they could get on the list. As such, CV VC stated:
“Firstly, blockchain technology has to be part of the company’s core business, secondly, it must employ more than one person in Switzerland or Liechtenstein, and lastly, it should make some contribution to the blockchain ecosystem and the wider Crypto Valley community.”
In addition, the firm must either be valued above $10 million or have a funding in “excess of $10, million”. The report reveals that the top 50 firms in the region have 443 employees. Also, the companies topping the list are Cardano, Ethereum, Dfinity, Xapo, and Bitmain. CV VC referred to this companies as the blockchain unicorn of the top 50.
The report went on to argue that the crypto valley has not lost its appeal as the choice location for blockchain firms. However, recent developments are suggesting that Switzerland is no more topping the list of the crypto –friendly nations. Recently, Elementus revealed that Singapore hosted the highest number of ICOs in the month of August. In addition, the report revealed that Switzerland’s ICO record neither improved nor declined.