Zug, Switzerland is literally the crypto cradle, according to Alexander E. Brunner, author of the book Crypto Nation Switzerland. This is due to the iconic origin story of Bitcoin, the birthplace of Ethereum, and the Swiss government’s proactive approach to brand the region as Crypto Valley. Zug scored highest overall for opportunity measures in CoinDesk’s Crypto Hubs 2023 rubric, due to the richness of its per-capita crypto-related companies and events. The hub also had the highest ranking in the two heaviest weighted criteria overall, regulatory structure and quality of life. Dolfi Müller, the former mayor of Zug, once said of the emergence of cryptocurrency and blockchain technology, “We always said we have to face it, because these things are coming whether we want or not.” The Swiss government has made it easy for crypto start-ups, providing clear regulatory frameworks and even local “crypto banks” like SEBA and Sygnum. Zug is a small city, but the idea of Zug as a crypto “hub” also factors in the larger cities of Zurich, Bern and Geneva. Alexander E. Brunner said, “It has sort of spread across all of Switzerland.” Although Zug might be a convenient place to legally park your company, it’s not always where you pay people to do the actual work. Switzerland is one of the few places on the planet that makes New York City feel cheap. However, it is very much the place to be if you want regulatory clarity, easy access to banks and VCs or just a relaxing dose of Swiss tranquility. The vibe of crypto meet-ups in Zug have changed, with hoodies out and suits in. Brunner said, “The more fringe side of crypto has kind of moved away.” Some might bristle at the loss of crypto’s wilder side, but Brunner sees it as “Crypto is growing up, in Switzerland.”
Crypto Valley: Zug, Switzerland is the Crypto Cradle
