Crypto Startups Push Swiss VC Investments To A Record $1.25B (news.bitcoin.com)
Startups based in Switzerland have attracted a record amount of venture capital in 2018 and companies from the cryptocurrency industry have contributed to the notable increase.
Swiss startups received almost 1.24 billion francs of venture capital during 2018, nearly 32 percent more than the previous year.
The study covers venture capital investments of at least 100,000 Swiss francs.
The largest amount, 100 million francs, has been raised by the Zug-based SEBA Crypto, which works on a project to combine crypto and traditional banking services.
A key conclusion in the report is that the Swiss crypto scene is entering a “Period of normalization and professionalization.” Switzerland’s efforts to regulate the space have been a major factor in this process.
“However, there is no question of a hangover,” according to Mathias Ruch, board member of the Swiss Blockchain Federation and co-founder of Zug-based investment firm CVVC. The company recently published its own report revealing that the number of businesses operating from the Swiss Crypto Valley has increased to 750, despite the bearish trend that started in 2018.
Original article reduced by: 79%
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Related story: Binance Users Can Now Pay For Crypto With Credit Cards (coindesk.com)
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