Zurich – Emerging Fintech and Blockchain Hub for Startups

Rage Review : In June this year, the Swiss Parliament announced that it would officially withdraw regulation on blockchain startups, which greatly promoted the growth of blockchain and financial technology startups. An open regulatory environment can bring unlimited potential for innovation and development, and bring more opportunities to the investment market. Zurich gathers the leading startups in Switzerland, and with the impact of Brexit on its blockchain and other industries, Zurich may become a global blockchain startup and financial technology center.

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Zurich – Emerging Fintech and Blockchain Hub for Startups

Switzerland, and Zurich in particular, is home to many of the leading startups and organizations in the cryptocurrency space, including Xapo, Ethereum, Metaco, and Lykke.

As a leading global city and the world's largest financial center, Zurich provides a favorable entrepreneurial environment for fintech startups under effective financial supervision and policies.

In June, the Swiss Parliament officially announced the removal of regulations on blockchain startups and submitted a bill that would remove cryptocurrencies from the regulatory framework for financial institutions and companies.

The bill, which is expected to be processed in the fall of 2016, would provide blockchain and bitcoin startups with some freedom to launch products, services and operations without having to deal with strict regulations and policies.

The city’s regulatory pragmatism has increased the number of blockchain and fintech startups, expanding the market for local investors and venture capital firms.

According to a recent study by Fintech Switzerland, 66% of the country’s top fintech startups are based in Zurich, including large venture capital-backed startups, including bitcoin wallet and storage provider Xapo, which are leaders in the Swiss cryptocurrency and blockchain industry.

According to a study by Fintech Switzerland, five of the top 30 Swiss fintech startups are focused on bringing Bitcoin and blockchain technology to mainstream users. Some startups, including iProtus and Monetas, have demonstrated unique implementations of blockchain technology in various fields, such as healthcare, automotive, marketplaces, and financial enterprises.

For example, Monetas, winner of the 2015 Swisscom Startup Challenge, received $7 million in funding from well-known investors, which estimates the company's total value at around $90 million.

As Brexit and the US tightens regulation on digital currency companies, British blockchain and bitcoin startups have been seriously considering moving from London to Berlin. In this case, Zurich, Switzerland may become the world's leading center for blockchain startups and financial technology.