Fintech breeding grounds are well-established in London, Berlin and Singapore. Now, cryptocurrency backers are setting up Switzerland's first digital currency and blockchain hub.
Zug is home to Switzerland's first blockchain and cryptocurrency hub, called«Crypto Valley Labs». Risk investors Lakeside Partners, digital investment bank Blockhaus and the crypto specialists at law firm MME are the center's backers, according to a statement.
The lab is conceived as a blockchain- and crypto-technology-based common workplace in Zug, with room for more than 30 startups. Crypto Valley Labs is meant to be the first of several global hubs with the goal of establishing a decentralized startup ecosystem, its backers said.
The first such hub – dubbed Genesis – is set to open later this year.
