The French blockchain company Ledger has been based in Zurich since 2021. Ledger is a global leader in security and infrastructure solutions for cryptocurrencies as well as blockchain applications. For Ledger Vice President Sébastien Badault, Swiss stability and openness to the crypto economy were the main reasons for expanding to Zurich.
Ledger, a pioneer in security and infrastructure solutions for cryptocurrencies, was founded in 2014 and today employs around 900 people. In addition to its headquarters in the French cities of Paris and Vierzon, Ledger now operates eight additional locations in the USA, UK, Singapore, and Switzerland, among others. Ledger’s rapid growth is based on a proprietary technology that can be used to securely store crypto assets such as NFTs digitally. Ledger’s technology is currently used to secure around 20 percent of the world's crypto assets. The company’s hardware wallet is a physical product on which customers can store the assets offline. Ledger has already sold six million of these devices in over 200 countries. Target groups include financial institutions and other companies, as well as wealthy individuals.
Ledger's top 3 reasons for choosing the Greater Zurich Area:
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Openness: business and authorities are open to crypto innovations.
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Know-how: in-depth knowledge and expertise of crypto.
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Stability: Crypto Valley is resilient and offers a clear, progressive framework.
Crypto ecosystem is attractive
The decision to locate to Zurich was exactly the right one, says Sébastien Badault, Vice President at Ledger for Metaverse and Web 3. He emphasizes: "Stability and openness, that's what we particularly appreciate about Switzerland." According to Badault, the Swiss crypto environment is developing dynamically and there is a high level of maturity in the ecosystem. In Greater Zurich, Ledger finds experts who can provide advice and support on specific crypto topics. "In other countries, this is often difficult," Badault said.
Since Switzerland is home to several interesting companies for Ledger, the initial focus is on the corporate customer business. According to Badault, however, business-to-customer activities will follow later.
Crypto Valley shows resilience
The ecosystem around Crypto Valley offers stability even in turbulent times, as evidenced by a number of successful resident companies and unicorns. Ledger affirms this positioning of Crypto Valley as a stable and reliable environment for companies. This is also reflected in the current CV VC Top 50 Report on the situation of the blockchain industry in Switzerland. Company representatives attribute this mainly to progressive regulation and the openness of business and administration to the concerns of blockchain companies
Greater Zurich Area Ltd.’s experts and the Swiss Business hub France supported Ledger with their expansion to Zurich. "They helped us every step of the way to Switzerland," says Badault. Ledger has benefited, for example, from specific information about the location or contacts with relevant Swiss players in the crypto ecosystem.
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Fintech & Blockchain in the Greater Zurich Area
Fintech & Blockchain in the Greater Zurich Area
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.
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