Zug - With a new valuation of around USD 2 billion, 21.co has become the largest crypto unicorn of the Crypto Valley in Greater Zurich. 21.co is the new parent company of 21Shares, the world’s largest cryptocurrency product issuer, and the company Amun.

21.co has secured 25 million US dollars in a funding round led by London-based hedge fund Marshall Wace. The company with headquarters in the Crypto Valley in Zug and Zurich and offices in New York has now been valued at around 2 billion US dollars as a result. This makes it the largest crypto unicorn in Switzerland.

21.co CEO Hany Rashwan about why Switzerland is the ideal location for crypto-companies. Video credits: Switzerland Global Enterprise


21.co was newly established as a parent company in parallel with the funding round. Its largest subsidiary is 21Shares, the world’s largest cryptocurrency product issuer. 21.co also includes Amun, a token issuer specializing in simplified access to the decentralized world of finance with headquarters in the Seychelles, and Onyx, the platform developed by 21Shares for issuing and managing its 37 crypto ETPs (exchange traded products)


Our drive to revolutionize the world of crypto is only just getting started.
Ophelia Snyder - Co-Founder & President, 21.co

According to a press release from 21.co, these investments were raised during the ongoing “crypto winter”. In spite of difficult market conditions, 21.co ended 2021 with a nine-figure revenue run rate and constant inflows were recorded during market downturns. Over the past financial year to September 2022, 21.co recorded more than 650 million US dollars in net new assets, and in November 2021 it hit a record high of assets managed amounting to 3 billion US dollars.

21.co was founded by Ophelia Snyder and Hany Rashwan in 2018. Hany Rashwan commented: “Now, we’re the highest valued and largest tech startup in Switzerland – and we’re still only in the early days.” Ophelia Synder added: “Our drive to revolutionize the world of crypto and build bridges into the asset class is only just getting started.”

Coindesk Crypto Valley Teaser
21.co CEO and co-founder Hany Rashwan joins Home of Blockchain.swiss President Alexander Brunner to share insights into Switzerland’s pro-crypto regulatory landscape and how the country is embracing digital innovation.

Fintech & blockchain technology in the Greater Zurich Area

Fintech & blockchain technology in the Greater Zurich Area

Where world-class technology meets Swiss reliability: The Greater Zurich Area has evolved into a global fintech and blockchain hub, thanks to factors like access to talent, leading research institutes, innovation-friendly regulators, investors and industry partners. Switzerland, and particularly Crypto Valley in the Greater Zurich Area, has been at the forefront of digitization and disruptive technologies, and start-ups in the area have access to a variety of incubators and accelerators that support them in establishing a company and developing ideas and products.