Xapo Transfers Key Operations to Switzerland

Wallet Customer Services to Be Based in Zug
Xapo is a major player in the cryptocurrency industry offering wallet and cold storage services for digital assets as well as a virtual bitcoin debit card. It’s currently headquartered in Hong Kong but it has maintained a presence in Switzerland since 2015, when the company opened an office in the Canton of Zug.
Xapo is incorporated in Hong Kong but Rogers revealed its status is now “an open question.” He did not go into details about what the restructuring would bring to Switzerland but at the moment his company has around 250 employees around the world, while less than 10 are working in its Zug office. According to a report from last May, Xapo held over 6.25 percent of all BTC in circulation. At the time, when bitcoin core was trading at over $9,000 per coin, the digital cash was worth over $10 billion. It’s believed the cryptocurrency is stored in a former military bunker in the Swiss Alps.It’s a reality of this industry that you have to be agile and react to regulatory changes all the time. Swiss regulators are smart, interested and sophisticated in dealing with the financial markets … Nothing has changed my belief that Switzerland is the right place for a blockchain or crypto project.
Xapo to Offer New Crypto Debit Cards
Switzerland has gradually become a leading European destination for crypto and blockchain businesses. It’s one of several crypto-friendly jurisdictions in the region, along with Malta, Gibraltar, Estonia, and the Isle of Man. That’s largely due to its neutrality, political stability, strong data protection laws, and tradition of financial privacy, as the Swiss outlet notes. In December, the Swiss government announced a comprehensive strategy for the sector that describes crypto technologies as an important development and aims to build a legal foundation for their implementation. This month, Switzerland’s finance minister Ueli Maurer, known for his positive attitude toward the industry, took over the office of the country’s presidency for a one-year term.
Images courtesy of Shutterstock.
At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more. The post Xapo Transfers Key Operations to Switzerland appeared first on Bitcoin News.
crypto card Crypto Valley Hong Kong jurisdiction N-Economy operations Regulations regulatory environment swiss Switzerland transfer VISA Xapo Zug