Bitcoin Suisse, the Swiss crypto financial services firm founded in Zug in 2013, plans to cut up to 60 of its 120 Switzerland-based positions as part of a restructuring intended to expand its international operations.

JUST IN: Swiss crypto firm Bitcoin Suisse plans to cut up to half of its workforce. — Polymarket (@Polymarket) September 11, 2026

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The company employs around 200 people globally. If the maximum number of reductions is implemented, its Swiss workforce would fall to roughly 60 employees.

A staff consultation process is underway and will continue until September 20. Under Swiss law, affected employees may submit proposals during the consultation that could reduce or limit dismissals before the company makes a final decision. The announced maximum is therefore not yet a final tally, and the number and distribution of the affected positions will be confirmed after the process concludes.

Roles to Move to Lower-Cost Hubs

The positions at risk are concentrated in back-office and administrative functions, as well as software development. Bitcoin Suisse said those activities will be consolidated in its international hubs in Bratislava, Slovakia, and at a planned new location in Vietnam.

The company has not disclosed the Vietnamese hub’s exact location, opening date, or associated investment. It will also close its IT development office in Copenhagen, removing Denmark entirely from its operating network.

CEO Andrej Majcen said operating costs in Bratislava and Vietnam would be lower than in Switzerland. He told Swiss financial publication Finews that the restructuring was driven by cost reduction and the company’s international expansion rather than weakness in the crypto market.

Headquarters and Wealth Management to Remain in Zug

Bitcoin Suisse plans to retain its headquarters in Zug, where client-facing wealth management services will remain centered. The company has described the restructuring as part of a transition from a predominantly Swiss crypto firm into a broader international financial services group.

In June, Bitcoin Suisse said it was targeting institutional clients, family offices, asset managers, and high-net-worth individuals as it develops a global wealth management platform.

The company holds 3 billion Swiss francs in crypto assets under custody and reported 95 million Swiss francs in equity as of January 2026. Earlier this year, it secured licenses in Liechtenstein and Bermuda. Its Middle East unit received full regulatory approval in Abu Dhabi in July and offers trading, custody, staking, and lending services there.

Bitcoin Suisse previously applied for a Swiss banking license in 2021. It withdrew the application after the Swiss Financial Market Supervisory Authority indicated that approval was unlikely, citing weaknesses in the company’s anti-money-laundering controls.

The company has confirmed that the planned job cuts will not affect client custody, trading, staking, or lending services. The announcement concerns staffing and the restructuring of back-office and technical operations, while the final scope of the changes will depend on the consultation process.

Source: CoinCentral