Switzerland is a “pivot point” for crypto adoption in Europe and continues to be the “center point of the next stage of institutionalization,” said Dr. Dirk Klee, CEO of Bitcoin Suisse.
Klee divulged why Switzerland is still the top spot for crypto in Europe and will continue to attract institutional investors in an exclusive Cointelegraph interview in Davos, Switzerland.
In discussion with Cointelegraph reporter Gareth Jenkinson, Klee explained:
“A lot of trust has been destroyed and eroded in the last year and we want to be kind of the center point of the next stage of institutionalization, making the place more accessible, easier to use, but also safer.”
Founded in 2013, Bitcoin Suisse is one of the oldest Bitcoin (BTC) and crypto companies specializing in asset storage, including “custody solutions deep in the Swiss mountains,” stated Klee.
Switzerland is a well-known safe haven for crypto in Europe. The landlocked country is recognized for its role in the inception of Ethereum and is home to Crypto Valley — a favorable environment for blockchain and cryptocurrency companies.
Switzerland also boasts the Bitcoin and crypto-friendly city of Lugano, which hosts an annual Bitcoin conference and has even onboarded McDonald’s into accepting Bitcoin Lightning payments.
Related: Putting carbon credits on blockchain won’t solve the problem alone: Davos
However, even in Switzerland, crypto confidence took a knock in 2022, particularly in light of the FTX debacle and its contagion effects across the industry: “It’s a setback for the industry. It has destroyed a lot of trust and has also left a lot of investors harmed,” Klee explained.
In such an environment, it’s helpful to hark back to historic Swiss values. Switzerland is still a “safe safe place to do business."
“The Swiss finish, the Swiss quality is a narrative and is a quality sign that this industry needs because you need to have a trusted place.”
Thousands of crypto enthusiasts have flocked to the crypto and blockchain events at the World Economic Forum. Hosted at the seat of the Alps, in the Davos ski resort, it appears the overarching bear market has not disturbed the Swiss charm.