Bitcoin Suisse plans to lay off up to 60 of its 120 employees in Switzerland, restructuring its business and merging software development with back-office functions into an international center, while closing its IT development site in Copenhagen.

The Zug headquarters will remain, but if the maximum cuts are implemented, only about 60 employees will remain in Switzerland; the global workforce is approximately 200. The consultation period ends on September 20, after which the layoffs will take effect, with the first batch expected to occur within the year. The positions being cut are mainly in back-office, administration, and software development, while client-facing roles in consulting, relationship management, and wealth asset management will remain in Switzerland.

The company is consolidating development and back-office functions at its existing hub in Bratislava and plans to establish a new site in Vietnam. The Copenhagen site will be completely closed, and Denmark will exit its operational network. It also has offices in Liechtenstein, Abu Dhabi, and Bermuda. The official statement indicates this is to accelerate expansion, access a broader talent pool, and concentrate funding on subsequent products.

Co-founder and CEO Andrej Majcen characterized this adjustment as a shift from a "Switzerland-centric crypto company" to an international financial services group, targeting high-net-worth individuals, family offices, asset management institutions, and institutional investors. He explained to English media that operating related functions in Slovakia and Vietnam is significantly cheaper and emphasized that this move is not a response to price volatility or financial difficulties. Switzerland will continue to serve as a client-facing business center.

By 2026, the company has secured multiple licenses: the Financial Market Authority of Liechtenstein granted Bitcoin Suisse (Europe) AG a license under the MiCAR framework for crypto asset service providers, allowing it to operate in parts of the European Economic Area; the Bermuda Monetary Authority issued Bitcoin Suisse (International) Ltd. a Class F license for digital asset business and a Class B registration for investment business; and the Abu Dhabi Global Market Financial Regulatory Authority granted BTCS (Middle East) Ltd. a full financial services license. The company publicly claims to manage approximately $3.7 billion in crypto assets and describes itself as one of the leading staking operators globally.

Mechanically, this is a capacity migration driven by costs and licensing, rather than a trading desk-style buy-sell operation. High-salary positions in Switzerland are being reduced, with human resources and development budgets flowing to Eastern Europe and Vietnam; Switzerland retains a high-fee, strong-trust client interface, while low-cost centers take on standardized middle and back-office functions. Beneficiaries include group shareholders and institutional clients looking to expand international coverage and reduce unit service costs; the pressured parties are the development and back-office employees in Zug and Copenhagen, as well as the narrative of Crypto Valley keeping employment density local. The funding path is: Swiss licenses and brand premiums continue to attract clients, while operating expenses overflow into low-cost jurisdictions.

Supplementary structure: Founded in Zug in 2013 by Niklas Nikolajsen and others, Bitcoin Suisse expanded into trading, custody, staking, and lending; Andrej Majcen has served as CEO since January 2024. During the bear market of 2023, the company had already undergone a round of "moderate layoffs" in Switzerland, Denmark, and Liechtenstein, with employees dropping from about 280 at the end of 2021 to around 200-230, and significant revenue declines that year. This latest move comes after securing licenses, further dismantling middle and back-office functions from high-cost nodes.

Source: Public Information