Swiss Bitcoin Bank will lay off as many as 60 people to restructure

Bitcoin Switzerland announces layoffs and restructuring plans

Bitcoin Suisse recently announced an international restructuring plan to cut up to 60 local Swiss positions and close its R & D center in Copenhagen. The adjustment aims to centralize software development and back office functions into international operations hubs.

Switzerland faces job cuts

According to Reuters report on September 11, Bitcoin Switzerland confirmed the proposed layoffs plan after Swiss financial publication Finews first disclosed the reorganization news. The layoffs could affect half of the company's Swiss workforce, with the final number depending on a consultation process scheduled to end on September 20.

Zug-based Bitcoin Switzerland has approximately 200 employees worldwide, 120 of whom are in Switzerland. If the company implements the largest layoffs, its Swiss team will shrink to about 60 people. Despite the layoffs, the company plans to retain Zug as its headquarters and the center of its wealth management business.

company said that the final structure still needs to be determined through a consultation process, and it is currently impossible to provide the exact number of positions that will be cut at Zug headquarters. Under Switzerland's consultation process, affected employees can submit proposals to prevent layoffs, reduce the number of layoffs or limit their impact, thereby fighting for rights before the employer makes a final decision.

Founded in 2013, Bitcoin Switzerland provides cryptocurrency trading, custody, pledge and lending services to individual and institutional customers. Data from its official website shows that as of January 2026, the value of the encryption assets under the group's custody was 3 billion Swiss francs, and the shareholder's equity was 95 million Swiss francs.

Technical work shifts to international hubs

Under the new architecture, Bitcoin Switzerland will move more software development and administrative functions outside Switzerland. "Our software development and back-office capabilities will be increasingly integrated in international hubs," the company statement said. The move will help the company access more labor and direct investment towards future products. The statement did not specify which teams or functions would remain in Zug after the consultation.

In addition, the company will close its IT development office in Copenhagen, which means Denmark will withdraw from Bitcoin Switzerland's operating network, while Bratislava will continue to serve as an international hub. In Southeast Asia, Bitcoin Switzerland plans to build another hub in Vietnam, but has not disclosed the specific location, opening date, staffing or related investment details.

Moving development and administrative work to Bratislava and Vietnam will separate some technical functions from the company's Swiss headquarters. However, according to Finews, client-facing wealth management activity is expected to remain concentrated in Zug.

Bitcoin Switzerland also has offices in Liechtenstein, Abu Dhabi and Bermuda. Among them, the Middle East division relies on the Swiss Group's infrastructure to provide transaction, custody, pledge and lending products to individual and corporate customers. The Abu Dhabi office allows the company to establish a base in multiple regions where crypto companies have expanded compliance services; Bermuda has established a licensing system for digital asset business; and Liechtenstein is located in the European Economic Area, allowing financial institutions to enter some European markets when they meet regulatory conditions.

Pursuing an international financial model

The restructuring has increased the proportion of international business, while Bitcoin Switzerland retains its Swiss identity and headquarters. The backdrop of this strategic move is that banks and crypto-native companies are competing to provide custody, brokerage, tokenized assets and stablecoin services to professional clients.

For example, UniCredit is considering expanding through digital assets to cover custody, brokerage, tokenized investments and stablecoin services, and is currently in the early stages of selecting a technology provider. Previously, UniCredit has opened five-year investment certificates linked to the BlackRock iShares Bitcoin Trust ETF to professional clients in Italy, issued tokenized minibonds on the public blockchain, and also joined the European banking group Qivalis that is preparing to issue euro-denominated stablecoins.

For Bitcoin Switzerland, bank-led expansion of crypto services has brought new competition to the regulated market for digital asset products. The core strategy of the reorganization is to keep wealth management in Switzerland while locating more software and support work internationally.

Bitcoin Switzerland has previously tried to deepen its position in Switzerland's regulated financial sector. In March 2021, the Swiss Financial Markets Supervisory Authority (FINMA) stated that the company had withdrawn its application for a banking license because regulators considered approval unlikely. FINMA pointed out that factors such as weaknesses in anti-money laundering controls influenced its preliminary assessment. As the application process ends, the company continues to provide crypto financial services under its existing structure.

U.S. customers face independent regulatory system

For U.S. investors, Bitcoin Switzerland's proposed layoffs will not change U.S. regulations governing crypto custody or bank access. The company did not announce the establishment of a U.S. office in this reorganization, and its current network covers countries including Switzerland, Liechtenstein, United Arab Emirates, Bermuda, Slovakia and a planned Vietnam hub.

U.S. institutions seeking to provide crypto custody or banking services are subject to federal and state requirements. The recently published U.S. Crypto Banking Guide notes that access to Federal Reserve payment services depends on the institution's charter and master account eligibility, and custody and payment activities may also be subject to the rules of the banking regulator.

National Trust Bank is one of the ways in which the United States focuses on digital asset companies. Unlike universal commercial banks, trust banks usually focus on custody, trusteeship and related financial services rather than standard deposit and loan businesses. The Office of the Comptroller of the Currency (OCC) oversees federally chartered National Trust Banks and determines whether their capital, governance, risk control and compliance requirements are met. State regulators may also individually charter trust companies under their laws.

Bitcoin Switzerland made it clear that this staff reduction will not affect customers 'custody arrangements, account access, transactions, pledges or lending services. Its announcements are limited to staffing, integration of technical and back-office work, closure of the Copenhagen office and development of an international hub. According to the published consultation schedule, Swiss employees need to participate in the process before September 20. After that, Bitcoin Switzerland will determine the final number and distribution of affected positions.