CoinDesk
Bitcoin Suisse, the Zug-based crypto financial services firm with more than $3 billion in digital assets under custody, plans to cut up to 60 jobs in Switzerland, roughly half its local workforce, as it moves software development and back-office operations overseas. CEO and co-founder Andrej Majcen told Swiss outlet Finews the restructuring targets cost reduction, not market distress.
Why it matters
The cuts reframe Bitcoin Suisse from a Swiss crypto-banking anchor into a cost-optimized international operator. The firm is closing its Copenhagen IT site, keeping Bratislava running, and opening a new hub in Vietnam, where Majcen said the same services can be delivered at "significantly lower cost." Founded in 2013, Bitcoin Suisse currently employs around 200 people globally and offers trading, custody, staking, and lending.
The restructuring runs alongside a strategic pivot into broader wealth and asset management services for high-net-worth and institutional clients. That pivot, rather than pure cost-cutting, is the explicit framing the company is putting on the move.
Market impact
Bitcoin Suisse's Liechtenstein subsidiary secured authorization under the European Union's Markets in Crypto-Assets framework in June, enabling it to serve clients across selected EEA markets. The license path lines up with the headcount restructuring: a lower-cost operating base supporting a regulated European push into adjacent financial services.
The story is structural rather than cyclical. Majcen told Finews the cuts reflect international growth strategy and are unrelated to difficult crypto market conditions, though the broader trend of crypto firms trimming Swiss headcount while expanding into MiCA-regulated jurisdictions is now visible across the sector.
Frequently asked questions
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Why is Bitcoin Suisse cutting up to 60 Swiss jobs?
Bitcoin Suisse is moving software development and back-office operations to Bratislava and a new Vietnam hub, where CEO Andrej Majcen said the same services can be provided at significantly lower cost.
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Where is Bitcoin Suisse relocating operations?
The firm is closing its Copenhagen IT site, maintaining its existing Bratislava hub, and opening a new development center in Vietnam.
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How much in digital assets does Bitcoin Suisse custody?
Bitcoin Suisse holds more than $3 billion in digital assets under custody across trading, staking, lending, and custody services.
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Is the Bitcoin Suisse restructuring tied to the crypto market downturn?
CEO Andrej Majcen told Finews the cuts reflect an international growth strategy and are unrelated to difficult crypto market conditions.
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What regulatory expansion is Bitcoin Suisse pursuing?
Bitcoin Suisse's Liechtenstein subsidiary secured MiCA authorization in June, enabling it to serve clients across selected EEA markets as it expands into wealth and asset management.
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