Bitcoin Suisse to Cut Up to 60 Swiss Jobs in Global Restructuring

Bitcoin Suisse plans to cut as many as 60 jobs in Switzerland as the crypto financial services company shifts more of its technology development and back-office operations to lower-cost locations overseas.

The Zug-based firm, which holds more than $3 billion in digital assets under custody, could reduce its Swiss workforce by roughly half. Bitcoin Suisse employs approximately 200 people worldwide and is also preparing to close its IT development office in Copenhagen.

The company already operates a technology and services hub in Bratislava and intends to establish another location in Vietnam as part of the restructuring.

“In Bratislava and Vietnam, we can provide these services at significantly lower cost,” CEO and co-founder Andrej Majcen told Swiss financial publication Finews, which first reported the planned job cuts.

Majcen said the restructuring is part of Bitcoin Suisse’s broader international expansion strategy rather than a response to challenging conditions in the cryptocurrency market. The company is seeking to improve operational efficiency while expanding its presence beyond its traditional Swiss base.

Founded in 2013, Bitcoin Suisse has developed into a major European crypto financial services provider, offering cryptocurrency trading, custody, staking and lending services to private and institutional customers.

The company is now looking to broaden its business beyond digital assets by expanding into traditional wealth and asset management. The strategy is expected to target wealthy individuals and institutional investors seeking a wider range of financial services.

Bitcoin Suisse has also been securing regulatory approvals to support its European expansion. In June, its Liechtenstein subsidiary received authorization under the European Union’s Markets in Crypto-Assets Regulation, commonly known as MiCA or MiCAR.

The license allows Bitcoin Suisse to provide regulated crypto services to customers across selected markets in the European Economic Area. Combined with its overseas restructuring, the regulatory push highlights the company’s strategy of cutting operating costs while expanding its international financial services business.