Bitcoin Suisse to Cut Up to 60 of Its 120 Swiss Jobs, Shift Roles Abroad

Bitcoin Suisse, the Zug-based crypto custody and trading firm, plans to shift up to 60 of its 120 Swiss positions to lower-cost hubs abroad, according to Swiss financial outlet Finews. The move, dated to a Friday report, touches roughly half the company’s domestic headcount and centers on back-office and administrative functions rather than client-facing roles.

What two sources confirm

Cointelegraph relayed the Finews report directly, and the core figures line up with what a second outlet, CoinDesk, summarized independently: affected work is moving to Bratislava, where Bitcoin Suisse already operates, and to a planned new site in Vietnam. CEO Andrej Majcen told Finews that cost was the driving factor, saying operations in those two locations would run significantly cheaper than in Switzerland.

Majcen also pushed back on any read of the cuts as a sign of distress. He described the restructuring as part of an international expansion strategy, not a reaction to crypto market weakness. That framing matters given the scale: 60 jobs out of 120 is a 50% reduction in Swiss headcount, not a marginal trim.

Where one claim still stands alone

CoinDesk’s summary additionally states that the company is closing a Copenhagen IT site while keeping Bratislava intact. That detail did not appear in the Cointelegraph or Finews material reviewed here. CoinDesk’s own article was not accessible for direct verification at the time of writing, so the Copenhagen closure should be treated as reported by one outlet only, not yet corroborated by a second independent source.

This is not a claim that a fact is false. It simply has not cleared the two-source bar this desk applies before treating a detail as confirmed rather than reported.

Context: a firm already expanding outward

Founded in 2013, Bitcoin Suisse provides crypto trading, custody, staking and lending. In June the company said it was moving beyond its Swiss client base to target institutional clients, family offices, asset managers and high-net-worth individuals, positioning itself as a global wealth and asset management platform.

That push has come with a string of regulatory approvals. Bitcoin Suisse secured licenses in Liechtenstein and Bermuda earlier this year, and its Middle East subsidiary received full regulatory approval in Abu Dhabi in July. The Vietnam hub, described as a new location, is expected to open in the coming years, though neither report gave a firmer date.

For a firm with roughly 120 Swiss staff, cutting half that number is a large structural shift by any measure. Whether the Copenhagen detail firms up will depend on whether a second outlet independently reports the same fact.

Sources

• coindesk.com
• cointelegraph.com