Crypto Valley is rapidly becoming a magnet for decentralized crypto startups

Many countries are racing to ride the blockchain wave to become the ‘global crypto capital’, but most are not advancing towards this goal because of the fundamental absence of a healthy ecosystem for crypto startups. While many factors contribute to development of the ecosystem, the major contributing factor is lack of legal and regulatory uncertainty.

Crypto Valley

Switzerland has been the home to cross-border private banking and has a rich history of political and economic stability within the financial industry. In the past few years Switzerland has been focused on nourishing an ecosystem named ‘Crypto Valley’ for distributed ledger blockchain startups especially in the financial sector. It is interesting to note that Crypto Valley has been inspired by and modeled on the successful Silicon Valley. Crypto Valley is based in Zug, Switzerland which is well known for its low taxes and eye catching landscape.

Crypto Valley is rapidly becoming a magnet for decentralized crypto startups because of the following advantages on offer:

  • Regulatory bodies are providing a friendly and supportive regulatory environment as reflected from certainty on regulatory position underpinned by laissez-faire philosophy. This has been the key driver of crypto startups relocating to Switzerland from around the globe.
  • The government is proving itself to lay the groundwork to support entrepreneurship and innovation in crypto space. This is evidenced from a program that allows locals to pay for government services in crypto currency.
  • Top talent acquisition is accessible because of established crypto and decentralized thriving ecosystem.
  • Access to capital and fund raising is simple and easy.
  • Business environment is friendly, open and appreciative of startups.
  • Taxes are lower than most modern economies.
  • World class communication and transport infrastructure boosts liveability as well as global access.

A number of industries including finance, legal, healthcare and insurance are at the brink of remodelling through blockchain and decentralization. Interestingly, decentralized crypto lending pioneered by ETHLend is challenging the status quo of US $180 billion global lending industry. While in its infancy, decentralized crypto lending seeks a healthy startup ecosystem underpinned by innovative, trusted, flexible and entrepreneurial environments that are not prone to risks such as legal or regulatory uncertainties.

Crypto Valley checks all boxes for decentralized lending firms pursuing to institute, build and conquer the traditional lending industry. ETHLend intends to create value through peer to peer lending with a decentralized lending market and believes that Crypto Valley can provide an appealing environment required to establish itself as a dominant Fintech.

Written by Adnan Javed – ETHLend Legal Advisor

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