Zug - The number of companies in Crypto Valley increased slightly in 2022, according to a new report from CV VC. However, the valuation of the 50 largest blockchain companies fell sharply. Overall, the assessment of the development of the region, which includes Switzerland and Liechtenstein, was positive.

The crypto scene in Switzerland and Liechtenstein remains stable overall, as the new CV VC Top 50 Report from the Zug investment company Crypto Valley Venture Capital (CV VC) shows. According to the report, 1,135 blockchain companies are currently based in Crypto Valley. In 2022, a total of 190 new companies were registered, but at the same time 183 were dissolved. Employment fell by 4 per cent across Crypto Valley.

Geographically, the canton of Zug remains the heart of Crypto Valley, with almost half of the companies located there (510). This is followed by the canton of Zurich (197), Liechtenstein (97), and the cantons of Geneva (70) and Ticino (50).

The valuation of the top 50 companies in Crypto Valley is 185 billion US dollars, which is made up of 175.6 billion dollars for blockchain platforms by market capitalization and 9.7 billion dollars for commercial companies by stock valuation. This makes the 50 largest companies worth around 70 per cent less than they were a year ago, when the valuation was 611.7 billion US dollars.

However, the evaluation of financing rounds indicates resilience. Committed capital for the top 50 companies increased by 85.2 million US dollars (+2.7 per cent) to 3.2 billion US dollars. The Zug-based Seba Bank raised the largest sum, with 110 million dollars.

There are currently nine unicorn companies operating in Crypto Valley, compared with 14 a year ago. However, two commercial blockchain companies –21Shares and Gnosis Safe – have achieved unicorn status, indicating the maturity of Crypto Valley, according to CV VC. The other seven unicorn companies are blockchain platforms.

According to CV VC, Crypto Valley is developing in line with the global market turmoil. The company sees the positive regulatory environment in Switzerland and Liechtenstein as a success for the region.

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