Home of Blockchain.swiss releases Swiss Digital Asset Market Report 2022
At its launch event in the House of Switzerland at the World Economic Forum in Davos, Home of Blockchain.swiss today publishes the Swiss Digital Asset Market Report 2022 together with several partners.
Highlights about the Swiss digital asset ecosystem include 1,283 full-time equivalent employees, CHF 13.2 billion in total digital assets held under custody, and a total trading volume in 2021 of CHF 41.2 billion.
For the first time, this report collects the most important facts and figures about Switzerland’s growing digital asset ecosystem.
Davos, May 24, 2022 – Home of Blockchain.swiss, a new global promotion initiative for the Swiss blockchain industry, has today published the Swiss Digital Asset Market Report 2022 at the World Economic Forum (WEF) in Davos. The report is authored by Alexander E. Brunner and features analyses of a proprietary data set by the Eastern Switzerland University of Applied Sciences (FH OST) and an ecosystem map presented by CV VC. For the first time, this publication collects the most important facts and figures about Switzerland’s growing digital asset ecosystem.
The report’s centerpiece is a comprehensive ecosystem map across five layers. The key service providers present in Switzerland are categorized and shown in relation to each other. Within this vibrant network, applications are being built, funding is flowing, and attractive and relevant projects are supported.
Impressive numbers underline crypto-FIAT fusion
The Swiss Digital Asset Market Report 2022 builds on a survey among 47 responding digital asset providers. The data was collected between the 25th of March 2022 and the 2nd of May 2022 by the Eastern Switzerland University of Applied Sciences in St.Gallen (all figures in CHF per December 2021).
Taken together, Switzerland’s digital asset ecosystem has 1,283 full-time equivalent employees (FTEs) and 3,930 total FTEs including non-digital asset related personnel. For 36 of the 47 surveyed entities, the entire workforce is working solely in the digital asset space. The surveyed entities were holding CHF 13.2 billion of assets under direct custody (equaling to about 0.6% of the total market cap of all coins by the end of 2021). In 2021, comparing the total assets held under custody versus the total turnover for trading, shows that the total trading volume in 2021 was CHF 41.2 billion.
New reference publication for the Swiss digital asset ecosystem
Sitting at the nexus of traditional and decentralized finance (DeFi), Switzerland boasts a mature ecosystem with practical regulatory and legal frameworks and an openness to new innovative businesses. The Swiss blockchain and digital asset ecosystem has grown rapidly in recent years. With the arrival of the Ethereum Foundation and other first layer protocols such as Cardano, Tezos or Near in the Crypto Valley in Zug, Switzerland has become one of the leading blockchain and digital asset hubs globally. In particular, Switzerland is a pioneer in successfully fusing traditional finance with the rapidly growing world of digital assets and decentralized finance.
The objective of this report is to capture the Swiss digital asset ecosystem at the intersection of the FIAT and crypto worlds. Digital assets manage to bridge the unique combination of traditional banks and blockchain pioneers present in Switzerland. Going forward, the report will undergo an annual update to document the future development of the ecosystem.
Alexander E. Brunner, President of Home of Blockchain.swiss and author of the Swiss Digital Asset Market Report 2022, comments: “The ambition of our Home of Blockchain.swiss initiative is to create the leading hub for institutional-grade and compliant digital assets. We will achieve this by successfully integrating traditional finance with digital assets in an institutional framework.”
Ernesto Turnes, Professor at the Institute for Business Management at the Eastern Switzerland University of Applied Sciences (FH OST) and Head of the Competence Center for Banking and Finance, explains: “It was highly insightful to collect and compile this data set on Switzerland’s leading digital asset providers. on the leading providers in the Swiss digital asset ecosystem. At FH OST, we are proud to have contributed to the new Swiss Digital Asset Report 2022. The close interaction with leading renowned digital asset providers helps supports us in both our research and teaching activities and we look forward to future touchpoints.”
Olaf Hannemann, CIO and co-founder of CV VC, adds: “Blockchain is a catalyst technology that is here to stay. Especially in the growing digital asset market, it already fulfils the urgent demand for increased transparency and accountability. As the ecosystem partner of Home of Blockchain.swiss, CV VC is proud to present the ecosystem map and its key components, creating a new reference illustration for the industry.”
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Alexander E. Brunner, President, Home of Blockchain.swiss
Swiss Blockchain Federation
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About Home of Blockchain.swiss:
Home of Blockchain.swiss is a public-private-partnership initiated by the Swiss Blockchain Federation. Its goal is to promote Switzerland as a blockchain location and to strengthen the Swiss ecosystem. The initiative’s activities encompass the release of publications, the hosting of events, and a media campaign.
Further information: https://homeofblockchain.swiss
21Shares, Atomyze, Cardano Foundation, FTX Europe and Sygnum Bank
Swiss Blockchain Federation, Switzerland Global Enterprise (S-GE) and Asset Management Association Switzerland