Bitcoin Suisse to cut up to 60 Swiss jobs in overhaul

Bitcoin Suisse has announced plans to cut up to 60 of its 120 positions in Switzerland and close its Copenhagen development site as part of an international reorganization.

Bitcoin Suisse puts up to 60 Swiss jobs at risk

Reuters reported on Sep. 11 that Bitcoin Suisse had confirmed the proposed job cuts after Swiss financial publication Finews first disclosed the reorganization. The reductions could affect half of the company’s workforce in Switzerland, although the final number will depend on a consultation process scheduled to end on Sep. 20.

Based in Zug, Bitcoin Suisse employs about 200 people across its global operations, including 120 in Switzerland. The plan would leave its Swiss operation with approximately 60 employees if the company proceeds with the maximum number of cuts.

Finews reported that the overhaul forms part of Bitcoin Suisse’s move from a mainly Swiss crypto company toward an international financial services group. Despite the proposed reductions, the company plans to keep Zug as its headquarters and the center of its wealth management business.

A company spokesperson told the Swiss outlet that the final structure remained subject to consultation and that Bitcoin Suisse could not yet provide an exact number of positions that would disappear at its Zug headquarters. Swiss consultation procedures allow affected staff to submit proposals that could prevent dismissals, reduce their number, or limit their effects before an employer makes a final decision.

Founded in 2013, Bitcoin Suisse provides cryptocurrency trading, custody, staking, and lending services to private and institutional clients. Figures published on its website show that the group held 3 billion Swiss francs in crypto assets under custody and reported 95 million Swiss francs in equity as of January 2026.

Technology work will move to international hubs

As part of the new structure, Bitcoin Suisse will concentrate more of its software development and administrative functions outside Switzerland. The company said its “software development and back-office capabilities will increasingly be consolidated in our international hubs.”

Bitcoin Suisse said the model would help it access more workers and direct its investment toward future products. Its statement did not identify which teams or functions would remain in Zug after the consultation ended.

The company will also close its IT development office in Copenhagen. Denmark is therefore set to lose its place in Bitcoin Suisse’s operating network, while Bratislava will continue serving as an international hub.

In Southeast Asia, Bitcoin Suisse plans to establish another hub in Vietnam. The company has not disclosed the planned location, opening date, staffing level, or investment attached to the proposed Vietnamese operation.

Moving development and administrative work to Bratislava and Vietnam would separate some technical functions from the company’s Swiss headquarters. Client-facing wealth management activities, however, are expected to remain centered in Zug

Bitcoin Suisse also maintains offices in Liechtenstein, Abu Dhabi, and Bermuda. Its Middle East unit says it serves individual and corporate clients with trading, custody, staking, and lending products, supported by the infrastructure of the Swiss group.

The Abu Dhabi office gives the company a base in a region where several crypto firms have expanded regulated services. Bermuda, meanwhile, has developed a licensing system for digital asset businesses, while Liechtenstein’s position within the European Economic Area gives financial firms access to parts of the European market when the required regulatory conditions are met.

Bitcoin Suisse pursues an international finance model

The restructuring places more weight on international operations while Bitcoin Suisse retains its Swiss identity and headquarters. Its stated strategy also comes as banks and crypto-native companies compete to provide custody, brokerage, tokenized assets and stablecoin services to professional clients.

In September, crypto.news reported that UniCredit was considering a digital asset expansion covering custody, brokerage, tokenized investments and stablecoin services. The Italian lender was selecting a technology provider, although the discussions remained at an early stage and no final decision had been made.

UniCredit had already given professional clients in Italy access to a five-year investment certificate tied to BlackRock’s iShares Bitcoin Trust ETF. The bank also issued a tokenized minibond on a public blockchain and joined Qivalis, a European banking group preparing a euro-denominated stablecoin.

For Bitcoin Suisse, the expansion of bank-led crypto services adds anotherducts. The company’s reorganization centers on keeping wealth management in Switzerland while placing more software and support work in international locations

Bitcoin Suisse has previously sought to deepen its standing within Switzerland’s regulated financial sector. In March 2021, the Swiss Financial Market Supervisory Authority said the company had withdrawn its application for a banking license after the regulator indicated that approval was unlikely at the time.

FINMA said several factors were relevant to its preliminary assessment, including weaknesses in Bitcoin Suisse’s anti-money laundering controls. The withdrawal ended the application process, while the company continued offering crypto financial services under its existing structure.

U.S. clients face a separate regulatory system

For American investors, Bitcoin Suisse’s proposed cuts do not change the U.S. rules governing crypto custody or banking access. The company has not announced a U.S. office as part of its reorganization, and the locations named in its current network are Switzerland, Liechtenstein, the United Arab Emirates, Bermuda, Slovakia, and the planned Vietnam hub.

American institutions seeking to provide crypto custody or banking services operate under federal and state requirements. A recent U.S. crypto banking guide explains that access to Federal Reserve payment services depends on an institution’s charter and eligibility for a master account, while custody and payment activities can also fall under rules administered by banking regulators.

National trust banks represent one route for U.S. companies focused on digital assets. Unlike full-service commercial banks, trust banks generally concentrate on custody, fiduciary work, and related financial services rather than standard deposit and lending operations.

The Office of the Comptroller of the Currency oversees federally chartered national trust banks and decides whether applicants meet its requirements for capital, governance, risk controls, and compliance. State regulators can separately charter trust companies under their own laws.

Bitcoin Suisse has not said that the job reductions will affect client custody arrangements, account access, trading, staking, or lending services. Its announcement was limited to staffing, the consolidation of technical and back-office work, the Copenhagen closure, and the development of its international hubs.

Under the consultation timetable disclosed by the company, employees in Switzerland have until Sep. 20 to take part in the process. Bitcoin Suisse will determine the final number and distribution of affected positions after that period ends.

Source: cryptonews.net