Bitcoin Suisse announced plans to eliminate as many as 60 of its roughly 120 jobs in Switzerland as the company reshapes itself into an internationally focused financial services group. The cuts represent a significant shift from the firm's origins in cryptocurrency trading and custody.
The company, founded in 2013 in Zug, initially built its reputation around crypto services including trading, custody, staking, and lending. The workforce reduction is part of a broader strategy to serve wealthy private clients, family offices, asset managers, and institutional investors with services extending beyond cryptocurrency.
Which roles are being eliminated?
Back-office and administrative positions, along with software development roles, will be most affected by the cuts. The eliminated positions are set to be relocated to Bratislava or Vietnam, where Bitcoin Suisse plans to establish new operations in coming years.
The consultation process determining the final number of affected roles runs until September 20, with staff informed at a town hall on Friday. The first layoffs are expected to take effect before the end of 2026.
Strategic positioning for international expansion
Switzerland will remain the company's headquarters and base for customer-facing operations including client advisory, relationship management, and wealth and asset management services. The Bitcoin Suisse name is not changing.
Bitcoin Suisse's European arm has secured a MiCAR license in Liechtenstein. The group holds digital asset and investment licenses in Bermuda, and in July, its Abu Dhabi subsidiary received a Financial Services Permission from the FSRA.
The company currently custodies approximately $3.7 billion in crypto assets and ranks as the fourth-largest staking operator globally.
Cost efficiency and operational transformation
Bitcoin Suisse attributed the cuts to cost and efficiency measures rather than weakness in the crypto market. The company cited more efficient working methods and new technology, including artificial intelligence, as factors changing staffing requirements.
