Fireblocks is turning its focus to Switzerland. The New York specialist for moving, storing, and issuing digital assets is choosing Zurich for its new offices as part of its expansion in the German-speaking region, as was reported in a press release.
Fireblocks has close to 200 institutional customers in the region. The company has doubled the size of its European team over the past six months. It will now support its German-speaking customers from Zurich and further expand its presence.
As reason for its decision, the company highlights that Switzerland is one of the most diverse and fastest growing financial hubs in the world. It was also one of the first financial sectors to welcome cryptocurrency and decentralized finance with a full set of regulations governing the industry. In February, Switzerland ushered a tokenized Securities Law that backs the country to have one of the most advanced jurisdictions in the world for crypto.
Fireblocks reportedly also recently joined as a member of the Crypto Valley Association in Zug. “It is important for us to work with Switzerland-based companies because of the value they bring to the financial market, having established themselves as one of the world’s leading financial centers,” said Michael Shaulov, CEO of Fireblocks. “Now these financial institutions are seeking to rapidly deploy digital asset custody, trading, and tokenization products and are turning to vetted technologies to help them remain at the forefront of this space and securely tap into the global crypto-ecosystem.”