Twice a year, Crypto Valley Venture Capital (CV VC) publishes the CV VC Top 50 Report, a comprehensive overview of the blockchain industry in the Crypto Valley (Switzerland and Liechtenstein). For the second time, Cryptix has been mentioned in the Payment & Stablecoin category, sharing the spotlight with companies such as Libra and Zulu Republic.
The report highlights Cryptix’s vision
The Cryptix Group is a full-service provider that realises digital payment and exchange solutions that make life simpler for consumers and businesses. The Group consists of eight companies in Switzerland, Liechtenstein, Austria and Slovenia. The Cryptix brands eCredits, eWallet and Blocktrade will be particularly critical in achieving the vision of establishing the first people’s financial marketplace. This platform will combine many services such as payments, trading and investment, and banking and insurance in one app, the eWallet.
As a significant first step, the Group aims to build a borderless financial ecosystem that everyone can use intuitively: In early 2020, Cryptix expects to launch eCredits, the first blockchain-based e-money tied to the euro. To create a regulated financial marketplace, eCredits has applied for the EMI licence in Liechtenstein. At the same time, Blocktrade is in the process of applying for the MiFID II licence in Liechtenstein.
The Crypto Valley is getting more crowded
The CV VC Top 50 Report also highlights the current situation in Crypto Valley and looks back at some of the developments in the last six months. There are some interesting takeaways from the current report:
The number of companies in the Crypto Valley has increased to 842, and the industry employs 4,400 people in Switzerland and Liechtenstein.
There are eight crypto hotspots in Crypto Valley: Zug, Zurich, Geneva, Lucerne, Bern, Ticino, Vaud and Liechtenstein. With more than half (425) of all the companies registered, Zug remains the heart of the Crypto Valley.
The regulatory frameworks in Switzerland and Liechtenstein continue to lead globally. Switzerland introduced changes to existing legislation, thus strengthening its principles-based approach. Liechtenstein adopted the Blockchain Act, which enables digitisation and integration into the existing legal framework.
You can learn more about the Crypto Valley and read the full CV VC Top 50 Report here.