Bitcoin Suisse has told staff at its Zug headquarters about job cuts that could eliminate up to 60 current positions. First, a ten-day consultation process with employees follows.
As one of Switzerland's oldest crypto financial service providers, Bitcoin Suisse specializes in the trading and custody of cryptocurrencies. Niklas Nikolajsen originally founded the company in Zug in 2013 with other early Bitcoin enthusiasts. Since then, it has become known as a pioneer of the Crypto Valley. The firm later added staking and lending. Co-founder Andrej Majcen has led the group as Group CEO since January 2024. The group now plans to move back-office tasks to Bratislava and Vietnam to cut costs. At the same time, new licenses in Liechtenstein, Bermuda and Abu Dhabi support its international expansion.
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Back-office jobs move to Bratislava and Vietnam
Staff in Zug learned of the plans at an internal meeting in September 2026. As Finews reports, up to 60 of the current positions at the headquarters are at stake. The company has not published its own press release on the cuts so far. After a consultation process, the first layoffs are then due to take effect before the end of 2026.
The cuts mainly affect back-office functions. Bitcoin Suisse will move these tasks either to Bratislava or to a new site in Vietnam. The Slovak capital is familiar ground for the group. Back in September 2025, the firm appointed Peter Camenzind CEO of Bitcoin Suisse AG. Even then, the company pointed to its offices in Copenhagen and Bratislava. In Vietnam, however, the group is building a site from scratch.
Majcen ties the job cuts at Bitcoin Suisse to international growth
CEO Majcen links the cuts to a change of course for the entire firm. In his words, Bitcoin Suisse is investing in growth and aims to become a global brand. Zug remains the headquarters, but international growth takes priority.
"In the past, our focus was mainly on Switzerland. Now international growth is our priority. Building on our extensive crypto experience, we want to offer international clients a broad range of wealth and asset management services. That offering goes beyond crypto." - Andrej Majcen, Group CEO and co-founder of Bitcoin Suisse, speaking to Finews
The same line also appears in the Crypto Wealth Management Report 2026. In the foreword, Majcen cites growing client demand for broader, more sophisticated digital asset solutions. This demand, he writes, is driving "the next phase of Bitcoin Suisse's global expansion". According to Majcen, new licenses allow the company to broaden its offering. In addition to trading, institutional custody and staking, it is adding investment advice, portfolio management and hedging solutions. The firm thus positions itself as a "global crypto-native wealth management partner".
Three new licenses support the international expansion
The Bermuda Monetary Authority made the first move in May 2026. It granted the subsidiary Bitcoin Suisse (International) Ltd. in Hamilton a Class F license under the Digital Asset Business Act. The entity also received a Class B registration under the Investment Business Act 2003. For now, both remain pre-operational. In June 2026, Liechtenstein's Financial Market Authority (FMA) followed. It granted Bitcoin Suisse (Europe) AG a MiCAR license as a crypto asset service provider. This license builds on its earlier registration under Liechtenstein's TVTG. It allows the subsidiary, led by CEO Roman Przibylla, to use so-called passporting across the entire European Economic Area.
Finally, in July 2026, the group completed a multi-stage licensing process in Abu Dhabi. The Financial Services Regulatory Authority of Abu Dhabi Global Market granted BTCS (Middle East) Ltd. full Financial Services Permission. It covers trading, custody, management and hedging of crypto exposures. As a result, Bitcoin Suisse covers three jurisdictions abroad, from the European Economic Area through Bermuda to the Middle East.
The route via foreign licenses has a history in the home market. In July 2019, Bitcoin Suisse applied to FINMA for a Swiss banking license but withdrew the application in March 2021. The regulator previously classified it as "not eligible for approval", partly because of shortcomings in its measures against money laundering.
