About

The Crypto Valley Association is an independent, government-supported association established to take full advantage of Switzerland’s strengths to build the world’s leading blockchain and cryptographic technologies ecosystem.

We support and connect startups and established enterprises through policy recommendations, projects across verticals, initiating and enabling research, and organizing conferences, hackathons, and other industry events.

With active connections to similar hubs around the world, we also ensure Crypto Valley’s participation in the global efforts to foster blockchain and cryptographic technology innovation.

Our Story


The creation of Crypto Valley was inspired by the enormous advantages of global industry clusters — a friendly regulatory environment, network effects, economies of scale, attracting the world’s best talent, building deep pools of capital and a rich ecosystem of resources and know-how for startup companies, nurturing an entrepreneurial culture, infectious energy, and strong trust relationships that make the impossible possible.

Crypto Valley was initiated by Johann Gevers after identifying Switzerland with its decentralized, citizen-controlled political system, its centuries-old culture of individual rights, innovation, and entrepreneurship, its neutrality, stability, and business-friendly environment, and its world-class infrastructure and educational institutions as the ideal environment for building the new generation of decentralized technologies. Gevers moved his cryptofinance startup Monetas to Zug, Switzerland in July 2013, defined the vision for Crypto Valley as a global hub for crypto technologies modeled on the success of Silicon Valley, and started building the Crypto Valley ecosystem in Zug, Switzerland by developing supportive relationships with the authorities, attracting leading crypto startups, helping them setup their operations, developing an ecosystem of expert professional service providers, driving the development of a friendly regulatory environment, and promoting Crypto Valley in the industry and the media.

Through the broad support of numerous individuals, startups, corporates, service providers, industry associations, educational institutions, governments, and regulators — especially the early pioneers Monetas, Ethereum, Bitcoin Suisse, MME Legal, the Digital Finance Compliance Association, the Bitcoin Association of Switzerland, Lucerne University of Applied Sciences and Arts, the canton and city of Zug, the Greater Zürich Area, Switzerland Global Enterprise, the Swiss Financial Market Supervisory Authority (Finma), and the Swiss Federal Government — Crypto Valley has grown into one of the world’s leading ecosystems for crypto, blockchain, and distributed ledger technologies, with dozens of companies in this space now calling Crypto Valley home and thriving in its vibrant community.

In January 2017 the Crypto Valley Association was established as a professional organization to coordinate, accelerate, and scale the further development of Crypto Valley into the world’s best ecosystem for crypto technologies and businesses. The founding members were Bitcoin Suisse, Bussmann Advisory, iprotus, Lucerne University of Applied Sciences and Arts, Luxoft, Monetas, and Thomson Reuters.

The Board

Oliver Bussmann (President)

Oliver Bussmann is a globally recognized technology thought leader and driver of large-scale transformation at multinational organizations. The Founder and Managing Partner of Bussmann Advisory, he advises enterprises, top-tier consultancies, and financial services companies looking to stay ahead of the digital disruption curve. From 2013 to 2016 Oliver was Group Chief Information Officer of UBS. Prior to joining UBS Oliver was Global Chief Information Officer at SAP, and before that CIO for North America & Mexico at Allianz. Previous roles have included executive positions at Deutsche Bank and IBM. Oliver has been named COO/CTO of the year by Financial News/The Wall Street Journal, European CIO of the Year by INSEAD/CIONET, has received the Elite 8 Award, which is given to the most innovative leaders in technology working in capital markets by Wall Street & Technology Magazine, and has more than once been included on the Financial News “Fintech 40” list of innovators shaping the future of finance.

Vasiliy Suvorov (Vice President)

Vasiliy Suvorov is an accomplished technology strategist with more than 20 years of experience in creating and bringing new and emerging software technologies to international markets. As Vice President of Technology Strategy at Luxoft, based in Zug, Mr. Suvorov leads its Global Innovation Labs division which serves as the internal incubator for strategic platforms and technologies. Starting in 2015, he has been driving Luxoft’s strategy and R&D efforts related to the investigation and adoption of Blockchain and Distributed Ledger Technologies (DLT) for the Financial Industry, IoT and Telecom. Throughout his professional career he has held leading technical and management positions in international telecom and hi-tech companies, where he was responsible for defining technical strategy, designing and implementing real-time and mission-critical software systems. Mr. Suvorov actively participates in international conferences and technology alliances helping companies realize business benefits from emerging technologies.

René Hüsler (Secretary, Treasurer)

René Hüsler is the Director of the School of Information Technology at the Lucerne University of Applied Sciences and Arts. He earned his PhD at the Swiss Federal Institute of Technology (ETHZ) in the field of electrical engineering after finishing an apprenticeship in mechanics, a diploma in computer engineering from the University of Applied Science in Brugg/Windisch and a diploma in computer science from the ETH Zürich. During his studies and after his PhD, René Hüsler worked for more than 15 years in several companies as engineer, project leader as well as department and business unit head before he joined the Lucerne School of Engineering&Architecture in 2002. He started developing the research activities in computer engineering and tripled the turnover in 3 years with an increased external funding rate. After 5 years as vice-principal and head of research with outstanding development rates and research results he was appointed as director in 2010 and in 2014 as the founding director of the newly formed department of information technology that opened ist doors in September 2016. René Hüsler is the co-founder of several startups and has a strong background and experience in information security, parallel and distributed computing as well as general management topics.

Sam Chadwick (Board Member)

Sam works in the Financial & Risk Innovation team at Thomson Reuters where he is responsible for several fintech innovation initiatives including alternative finance, crypto-currencies, blockchain technology and identity management. Sam has worked in product strategy and product management for the past 12 years in New York and Hong Kong before which he worked in International Trade and Cash Management at Barclays in London. Sam has a Masters in Financial Strategy from the University of Oxford and a Certificate in Corporate Treasury from the Association of Corporate Treasurers.

Søren Fog (Board Member)

Founder and CEO of iprotus and inventor of its core technology. Over 25 years of experience in IT and software development, architecture and business development within Internet, financials and pharmaceuticals. Founded and chaired one of Denmark’s first Internet Service Providers and a number of other start-ups. 10+ years of consulting and advising in a wide range of related disciplines, such as hard-core development, systems architecture, feasibility studies, start-up mentoring, entrepreneurship, business development, leading software projects and various technology presentations, workshops and training for techies and non-techies.

Progress

  • 2013 Q3

    Bitcoin Suisse is founded in Zug and Monetas relocates from Vancouver.

  • 2013 Q4

    The Bitcoin Association Switzerland is founded.

  • 2014 Q1

    MME starts building a specialism in the field of cryptofinance.
    The vision emerges between Ethereum, Monetas, MME and the Zug Economic Development office for a crypto-technology cluster based in Zug, modeled on Silicon Valley.
    Ethereum incorporates in Zug shortly after and the Zug tax authority approves the first Ether token crowd sale as tax-free.

  • 2014 Q2

    The Digital Finance Compliance Association (DFCA) is established to drive the development of a friendly regulatory framework for cryptofinance in Switzerland. Founding members include Bitcoin Suisse, Ethereum, and Bity. Bitcoin Suisse starts deploying Bitcoin ATMs in Switzerland.

  • 2014 Q3

    Bitcoin Suisse is approved as the first-ever cryptofinance member of a Swiss self-regulating organization (SRO), enabling it to legally operate cryptocurrency brokerage services in Switzerland. The Ethereum Foundation forms and launches its token sale with the approval of the Swiss financial market regulator, generating over 18 million dollars.

  • 2014 Q4

    SweePay incorporates in Zug, Switzerland.

  • 2015 Q2

    ShapeShift incorporates in Zug, Switzerland. Xapo moves its global headquarters to Zug. The Swiss Federal Council issues a report stating that bitcoins are regarded as a virtual currency and that no new regulations are needed.

  • 2015 Q3

    Akasha International incorporates in Zug.

  • 2015 Q4

    The Swiss financial market regulator (FINMA) announces that bitcoins will be treated as a foreign currency, which means that no new regulations are needed, and that bitcoin transactions will be exempt from sales taxes.

  • 2016 Q1

    Following efforts by DFCA to promote technology neutrality, FINMA announces an updated anti-money laundering policy under which bitcoin transactions are classified as money transmission, but with an important exemption for transactions that are strictly bilateral (person-to-person) and that financial institutions can accept electronic methods in place of paper documents for opening accounts. The Zug tax authority issues guidelines for the accounting and tax treatment of bitcoin transactions. Crypto Valley Forum is established to facilitate ecosystem networking events.

  • 2016 Q2

    ConsenSys incorporates in Zug.

  • 2016 Q3

    The City of Zug becomes the first government in the world to officially accept bitcoin payments for government services, attracting global media attention. Blockchain Source incorporates in Zug. Arthur Breitman presents Tezos, a third-generation blockchain.

  • 2016 Q4

    After months of lobbying by the DFCA and Xapo, Swiss regulators officially agree that the third-party storage of crypto assets is not a form of deposit taking, and therefore does not fall under banking regulations and does not require a banking license. This enables Xapo to legally operate its global bitcoin vault business from Switzerland. The trademark "Crypto Valley" is approved by the Swiss Institute for Intellectual Property and entered into the registry of trademarks. The Swiss Federal Council announces a fintech license with reduced regulatory requirements for fintech startups to encourage innovation in the fintech space. Swiss national rail operator SBB starts offering bitcoin purchases at all their ticket machines nationwide, enabling users to conveniently purchase bitcoin everywhere in Switzerland. Ernst & Young Switzerland announces full bitcoin acceptance and integration, and the development of blockchain and smart contract applications.

  • 2017 Q1

    The Crypto Valley Association is officially formed, led by five board members that represent a cross-section of organizations deeply involved in the international crypto/blockchain community. Tezos incorporates in Zug, Switzerland.

  • Now

Don't see your startup on this map? Contact Us.