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Bitcoin Suisse could cut its workforce in Switzerland by half and close its IT development center in Copenhagen as part of a reorganization of its international operations, but the digital asset company plans to establish a hub in Vietnam.
Bitcoin Suisse on September 11 stated that it could cut up to 60 of its 120 employees in Switzerland as part of the restructuring.
The final number of employees affected has not yet been determined because the company is reportedly conducting a consultation process that is expected to conclude on September 20. Bitcoin Suisse currently has about 200 employees worldwide.
Alongside the Swiss job cuts, the company will close its IT development center in Copenhagen, Denmark. Software development and back-office functions will increasingly be concentrated in international hubs.
Bitcoin Suisse said the model would allow it to expand more quickly, access a broader global talent pool, and allocate reas a hub in Bratislava, Slovakia, and is planning to establish another in Vietnam
The combination of job cuts in Switzerland and the closure of the Copenhagen center, alongside plans for another hub in Vietnam, reflects Bitcoin Suisse’s efforts to redistribute functions across the group.
Swiss newspaper Bote, citing Finews, reported that the affected positions were mainly in back-office and administrative functions. Some of these jobs are expected to be moved to Bratislava or Vietnam, with financial considerations believed to be the main reason for the relocation.
The planned Vietnam hub therefore does not necessarily mean Bitcoin Suisse is expanding its global workforce. Instead, the company is scaling back some operations at existing locations while concentrating software development and operational functions in several international hubs.
Bitcoin Suisse has not disclosed how many positions will be based in Vietnam, or the location, size of the workforce or expected launch date of the new hub.
Founded in 2013 and headquartered in Zug, Bitcoin Suisse provides digital asset-related financial services to retail and institutional clients, including trading, custody, staking and lending. The company has more than 200 employees across Switzerland, Europe and the Middle East.
Bitcoin Suisse has expanded its international operations in recent years. The group currently has operations in Switzerland and Europe through Bitcoin Suisse (Europe) AG, which is licensed in Liechtenstein, as well as offices in Bermuda and Abu Dhabi.
Bitcoin Suisse has made repeated contacts with Vietnam
The plan to establish a hub in Vietnam was made public as part of the latest restructuring, but Bitcoin Suisse’s interest in the Vietnamese market dates back earlier.
Earlier this year, Peter Camenzind, CEO of Bitcoin Suisse AG, joined a Swiss business delegation led by Philipp Rösler at a meeting in Bern with Vietnamese Deputy Prime Minister Nguyen Hoa Binh and a Vietnamese delegation.
Following the meeting, Camenzind said Bitcoin Suisse was monitoring Vietnam’s development, particularly in finance, digital assets and the regulatory framework for cryptocurrencies. The company also expressed a desire to contribute its experience to the development of Vietnam’s financial ecosystem.
Philipp Rösler, a former German Vice Chancellor and Vietnam’s honorary consul in Switzerland, is currently a member of Bitcoin Suisse’s board. According to the company, his focus in his board roles includes cross-border investment, market access and market development between Asia and Europe.
On July 28, Bitcoin Suisse also participated in a conference on business opportunities between Vietnam and Switzerland in Zurich. Discussions covered Vietnam’s International Financial Center, capital market reforms, digital assets, high technology and infrastructure.
The event also brought together Zürcher Kantonalbank, Sygnum Bank and several Swiss financial and investment institutions.
Following a capital-market networking event with Vietnamese counterparts, Camenzind said Vietnam was becoming a market that Bitcoin Suisse could no longer afford to ignore, adding that the company wanted to continue discussions.
Bitcoin Suisse’s interest comes as Vietnam continues to develop its regulatory framework for digital assets. Following the government’s Resolution 05/2025/NQ-CP on a five-year pilot program for the digital asset market, Decree 284/2026/ND-CP took effect on September 1, 2026, introducing additional administrative penalties for violations in the sector.
Under the decree, organizations providing services or advertising and marketing related to digital assets without a licence may face fines of up to VND200 million ($7,700).
Philipp Rösler has multiple roles linked to Vietnam
Rösler was born in Vietnam in 1973 and previously served as Germany’s Health Minister, Economy and Technology Minister and Vice Chancellor. After leaving politics in 2013, he joined the executive board of the World Economic Forum (WEF) in Geneva, where he spent about four years.
Rösler is currently a member of the board of Bitcoin Suisse, chairman of the Swiss-Vietnam Economic Forum (SVEF) and Vietnam’s honorary consul in the Swiss canton of Zug.
Bitcoin Suisse said his focus in his board and governance roles includes cross-border investment, market access and market development between Asia and Europe.
In Vietnam, he was elected as an independent board member of Vietjet A19, VinaCapital Ventures appointed him chairman of its Advisory Board to advise the fund and companies in its portfolio
These roles give Rösler a broad network of activities in Vietnam, spanning venture capital, ay also provide relevant context as Bitcoin Suisse steps up its engagement with Vietnam and publicly announces plans to establish a hub there
Source: theinvestor.vn