Bitcoin Suisse to cut up to half its Swiss jobs in overseas shift

Bitcoin Suisse, one of the oldest names in Swiss crypto, is slashing up to 60 positions in Switzerland as it moves operations to cheaper locations overseas. The cuts represent roughly half of the firm’s 120-person Swiss workforce.

The Zug-based company announced on September 11, 2026 that back-office, administrative, and software development roles will be consolidated into hubs in Bratislava, Slovakia, and a newly established office in Vietnam. Its IT development office in Copenhagen is also closing.

From Crypto Valley to global wealth shop

CEO Andrej Majcen framed the restructuring as an offensive play rather than a defensive one. The move is about international growth, not a reaction to crypto market conditions, according to Majcen.

Founded in 2013, the firm was one of the original inhabitants of “Crypto Valley,” the cluster of blockchain companies that sprouted around Zug’s favorable tax and regulatory environment. For years, Bitcoin Suisse operated primarily as a Swiss crypto specialist offering trading, custody, staking, and lending services. Now it wants to be something bigger: a regulated global wealth manager targeting high-net-worth individuals and institutions.

The company manages over $3B in digital assets under custody. With roughly 200 employees globally, the post-restructuring headcount in Switzerland will drop to around 60, though client-facing roles and the Zug headquarters will stay intact.

A consultation period with affected employees runs through September 20, 2026.

Regulatory passports and geographic arbitrage

The job migration follows a quiet but deliberate regulatory expansion. Bitcoin Suisse has secured licenses in Liechtenstein, Bermuda, Abu Dhabi, and other jurisdictions over recent years.

Switzerland remains one of the most expensive places in the world to employ software developers and back-office staff. Bratislava, by contrast, has become a favored nearshoring destination for European financial services firms. Vietnam offers even steeper labor cost advantages for technical roles.

What the broader industry should read into this

Bitcoin Suisse’s restructuring fits a pattern that’s been accelerating across the crypto industry. As the sector matures and regulatory frameworks solidify in multiple jurisdictions, companies are distributing their operations globally rather than clustering in a single high-cost hub.

The competitive landscape in European crypto wealth management is getting crowded. Seba Bank and Sygnum, both Swiss-licensed, have been expanding their institutional offerings. Traditional banks like Julius Baer have dipped their toes into digital asset services. Meanwhile, firms in Abu Dhabi and Dubai are aggressively courting the same high-net-worth clientele that Bitcoin Suisse is targeting with its new licenses.

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