The largest Swiss crypto broker leapt to the finish line last year, boosting its valuation ahead of a planned token offering.
The steep ascent in cryptocurrencies last year including a more than 300 percent surge in the value of bitcoin underpinned the Zug-based start-up's books: trading volume and number of orders nearly doubled, Bitcoin Suisse said in a statement. The eight-year-old company flagged a double-digit million Swiss franc net profit, amid a nearly 80 percent rise in revenue from trading.
Its assets under custody stood at 2.5 billion Swiss francs ($2.8 billion) at year-end. The company's advances boost its valuation as well, to $400 million – nearly half-way to unicorn status of $1 billion.
Token Offering Planned
Bitcoin Suisse's plans this year include clinching a long-awaited banking license, following approval for crypto banks Seba and Sygnum 17 months ago. It also wants to conduct a security token offering, or STO, in order to place its privately-held shares onto blockchain.
The company stands out from Seba and Sygnum because it is hugely profitable, stocked with ex-big bankers (including co-founder Niklas Nikolajsen and CEO Arthur Vayloyan), and has thousands of clients and processes in place. Bitcoin Suisse raised 45 million francs early last year, including from former Vontobel top banker-turned-investor Roger Studer.
