The “crypto valley” in Switzerland is based in Zug. Zug is a small tax haven hamlet that is not that famous. It is known for harboring the Marc Rich oil trader in the 80s, tech firms that are in the lifetime of Bitcoin and tax shells that were in the 90s.
Financial traditionalists dominate Zurich. The city has also got well-established health and legal services. It has a massive number of tech-minded people, and this includes over 150 blockchain-related firms.
The immense growth can be attributed to the Crypto Valley Association, which has been on the forefront championing the growth of the crypto space in Swiss. This organization which is an association of fintech individuals and ventures has pressured the Swiss regulators for quite some time now. They have forwarded about 14 distinct draft laws.
It is now evident that the Crypto Valley Association (CVA) has joined hands with Zurich Tourism which is Zurich’s marketing wing. It is in a bid to enlighten people on blockchain technology and bring businesses and tourists to Zurich.
The two parties even signed a memorandum of understanding with the primary objective being to enhance the Swiss blockchain network. CVA executive director said that they are establishing an ecosystem of banks, startups, law firms and any other participants who would wish to appear in this crypto space.
He added that they are striving to make the circumstances best for anyone involved and also have the best requirements for the investors’ businesses to thrive. Zurich Tourism main focus is to bring in cyber tourists that have internationally minded events and conferences. Vanessa Reis said that this relationship would be a success through the meetings for international audiences.
Also, reaching out to established businesses in Zurich will enhance this relationship in a positive way.