Switzerland-based Crypto Valley Association has launched as the nation looks to boost its blockchain and cryptographic ecosystem.

Headquartered in the Swiss canton of Zug, Crypto Valley is an independent, government-supported association which aims to foster the development of digital technologies in Switzerland and internationally. The association will support start-ups and established enterprises through policy recommendations, research projects; and by organising conferences, hackathons and other industry events.

Members include New York-based blockchain production studio ConsenSys, UBS, Oscars-ruining PwC, Thomson Reuters, financial services firm Luxoft, the canton of Zug, and Lucerne University of Applied Sciences and Arts.

Crypto Valley is led by president Oliver Bussmann, founder and managing partner of Bussmann Advisory and ex-CIO of UBS and SAP.

Bussmann says the association is not just “promoting” a region but also “further strengthening Switzerland’s position as a leading centre of innovation in this sector”.

State of the nation

Switzerland has proven to be a hotbed of fintech activity.

Recently, Switzerland’s Federal Council issued a consultation paper on amendments required to its Banking Act and Banking Ordinance, to create an environment that helps fintech start-ups thrive in the country.

The Monetary Authority of Singapore (MAS) and the Swiss Financial Market Supervisory Authority (FINMA) also signed an agreement to foster more fintech co-operation.