Bitcoin Suisse to Cut Half Its Swiss Workforce, Shift Jobs Abroad

Bitcoin Suisse, a crypto custody and financial services firm holding more than $3 billion in digital assets, plans to cut up to 60 jobs in Switzerland, representing half its local workforce. The Zug-based company, which employs roughly 200 people worldwide, is relocating software development and back office functions to lower-cost locations abroad.

Copenhagen Site Closing, Vietnam Hub Opening

As part of the restructuring, Bitcoin Suisse is closing its IT development site in Copenhagen while keeping its existing hub in Bratislava and establishing a new one in Vietnam. CEO and co founder Andrej Majcen said the company can deliver the same services at significantly lower cost from Bratislava and Vietnam, and described the move as part of its international growth strategy rather than a response to weak crypto market conditions.

Company Eyes Expansion Into Wealth Management

Founded in 2013, Bitcoin Suisse provides crypto trading, custody, staking, and lending services. Majcen said the firm now wants to broaden into wealth and asset management for wealthy individuals and institutional clients. It has already begun securing the licenses needed for that shift, including MiCA authorization for its Liechtenstein subsidiary in June, allowing it to serve clients across select European Economic Area markets.