Switzerland is a leader in ICOs

In the first five months of this year, 537 ICOs worldwide raised a total of 13.7 million US dollars, according to the results of a study conducted by PwC and the Crypto Valley Association. This is almost twice as much capital as was raised in 2017, a previous record year.  

The USA remains the world leader in terms of the number of ICOs conducted in 2018, with companies there raising more than a billion Swiss francs in 56 ICOs in the first five months of this year. In Singapore, 53 ICOs brought in just under two billion dollars, while companies in Great Britain generated 507 million dollars in 48 ICOs. Just behind Great Britain, Switzerland raised 456 million dollars in 28 ICOs.   

In terms of capital volume raised in ICOs, the Cayman Islands and the British Virgin Islands overtook the USA, but the number of ICOs in these British overseas territories remained low compared to the USA.   

“Switzerland is one of the most important ICO hubs in the world alongside the USA and Singapore, not least thanks to its progress in regulation,” explained PwC in a statement about the study. It added that this could be particularly attributed to CryptoValley Zug, with principalities such as Hong Kong, Gibraltar, Malta and Liechtenstein copying crypto-friendly examples like Switzerland and Singapore. There is still room for improvement to the conditions, however, it concluded.