Europe is emerging as the most favorable continent for bitcoin business. Apart from few Eurasian and CIS nations, bitcoin and other digital currencies are well received by the governments and population alike. Netherlands and United Kingdom have been the best destination of bitcoin businesses to operate, until Switzerland entered the picture.
Switzerland is increasingly becoming a bitcoin hub, playing host to numerous digital currency startups. Some of the companies having their presence in Switzerland includes well-known names in the industry like Xapo, Ecurex and Monetas. Xapo is one of the leading bitcoin wallet and storage service provider known for its security measures. Xapo is also known as the Fort Knox of bitcoin. The company recently shifted its base from the United States to Switzerland.
Swiss Bitcoin Exchange is a go to place for the Swiss to buy, sell and trade bitcoin. Most of the bitcoin companies in Switzerland are concentrated in Zurich area. The French part of Switzerland is also the home of few digital currency startups like sBex and Metaco.
Apart from the great weather and pristine Alps, companies find Switzerland more attractive because of its history as a neutral territory with stable regulatory regime. The growing importance of Switzerland on the bitcoin map has led the organizers to schedule few events in the region. Later this month, Zurich will be playing host to Cryptocurrency and Blockchain event. Another event, International Crypto Finance Tech Conference will be held at Zug later this year in November.
Bitcoin and digital currency based startups are mostly technology and internet based companies that have their whole business built around the internet. This makes it easier for these companies to choose and operate from any place they want as long as the necessary infrastructure is in place. In order to grow, these companies choose to take the path of least resistance and regulatory factors in different regions play an important role in choosing the right place to start a digital currency business. If regulations are not satisfactory, these companies would rather relocate than waste time trying to satisfy all requirements.