Bitcoin Suisse cuts up to half its Swiss workforce, relocating jobs to Bratislava and Vietnam as part of a pivot toward global wealth management.
Regulation & Gov ·
Bitcoin Suisse is eliminating up to 60 positions at its Zug headquarters, relocating back-office and administrative functions to Bratislava and Vietnam as the company repositions itself away from pure crypto services toward broader wealth management. CEO Andrej Majcen stated the transition reflects a strategic shift to serve high-net-worth individuals, family offices, and institutional clients across multiple asset classes, supported by newly acquired regulatory credentials in Liechtenstein, Bermuda, and Abu Dhabi. The first layoffs are expected to complete before the year closes, following a 10-day consultation period announced to staff at a Friday town hall.
Majcen attributed the restructuring to cost efficiency rather than market stress, arguing that identical services can be delivered at substantially lower expense from the two offshore hubs. The company plans to maintain its Zug headquarters, preserve its brand identity, and remain open to Swiss acquisitions despite the overseas relocation push.
Several open questions remain: the precise final headcount of affected roles has not been confirmed, the timeline and phasing of the Vietnam expansion is unclear, and whether the cost savings will fund expansion into the new wealth-management verticals or flow to profitability remains unstated.