Blockstream has launched a consulting business aimed at financial institutions and opened a new office in Lugano, Switzerland, the company announced. The expansion gives banks, asset managers and other institutions direct access to the firm's engineering teams and Bitcoin infrastructure.

The new unit, Blockstream Consulting Services, will support institutions through the evaluation, design and implementation of Bitcoin-based financial infrastructure. According to the company, the business will develop solutions for tokenized asset issuance, confidential settlement and related infrastructure, with services spanning technical strategy, system architecture, integration and implementation.

From Lugano, Blockstream plans to serve clients across Switzerland, including Zurich, Geneva and Zug. The company said the office will serve as a hub for its European operations, supporting client relationships, strategic partnerships and collaboration with the region's financial and technology communities.

"Switzerland is an important market for Blockstream given its longstanding banking tradition and supportive regulatory framework for digital assets," said Peter Bain, chief marketing officer of the company. "We look to provide regional expertise in markets where we see demand for Bitcoin infrastructure. Our consulting business, combined with our new office in Lugano, will bring tailored Bitcoin solutions to financial institutions across Europe."

Bitcoin adoption by financial institutions

Founded in 2014, Blockstream develops technology and services across Bitcoin custody, settlement, payments, asset issuance and self-custody. Its products include the Liquid Network sidechain, Elements, Simplicity, Core Lightning, the Jade hardware wallet and the Blockstream App. This year, the company launched Simplicity smart contracts on Liquid and added Lightning support to Jade.

The company said the consulting business draws on that experience, with capabilities in cryptography, protocol engineering, security and financial technology. Multidisciplinary teams will give institutions access to the firm's technical staff from initial evaluation through deployment.

"The next phase of Bitcoin adoption is its integration into existing financial systems," said Adam Back, Blockstream's co-founder and CEO, whose Hashcash proof-of-work design is cited in the Bitcoin whitepaper. "Our extensive experience in Bitcoin cryptography, protocol development and engineering gives Blockstream the technical expertise to address the complexities of integrating Bitcoin into traditional financial infrastructure."

Switzerland as a digital asset hub

Blockstream framed the move as part of a long-term commitment to Switzerland and a broader strategy of building a presence in key markets to support institutional Bitcoin adoption. The country has become a center for digital asset firms, home to Zug's "Crypto Valley" and a regulatory framework that permits banks to hold and trade bitcoin on behalf of clients.

Lugano has built a bitcoin profile of its own: since 2022 the city has partnered with stablecoin issuer Tether on the Plan ₿ initiative, which promotes the use of bitcoin for payments within the city and hosts an annual conference of the same name.

The company did not disclose pricing for the consulting business, headcount for the Lugano office or any named clients, leaving those details as open questions as the practice opens to institutions across Europe. It said the Lugano office is now open and that engagements are available to institutions across Europe.

This article is based on reporting by Micah Zimmerman, first published on Bitcoin Magazine.