Reading Time: 2 minutes

The 50 largest companies located in Crypto Valley are worth US$ 37.5 billion, a study produced by Crypto Valley Venture Capital (CVVC) shows. This is the name given to the region in Europe that attracted massive investments from the crypto sector. Initially, it was restricted to the canton of Zug, Switzerland. But today, it has grown to include other Swiss localities and also Liechtenstein. Also, according to a recent study, these 50 companies have 776 employees. But they are part of a broader ecosystem: 919 companies make up Crypto Valley and employ a total of 4.784 people.

In the group, there are 6 unicorn companies

According to the CV VC Top 50 Report, for the first half of 2020, among the top 50 companies, there are six unicorns. That is, they are start-ups that reach more than US$ 1 billion in market value. And one of them is Ethereum.

Most of Çrypto Valley’s significant companies (23 out of 50) operate in the blockchain technology industry. Data and analytics companies are on this list; hardware and infrastructure; and platform and protocol. It is in this last subgroup that is Ethereum. According to the report, these companies’ value is directly related to “how many successful applications are built” on these networks.

Crypto Valley companies also work in the arts field 

The second category is the financial industry, of which 22 of the 50 largest companies are part. These fintechs operate in a wide range of areas. They go from managing assets to payment technology, for example. Besides, there are companies in the area of liquidity guarantees and lending platforms, such as Aave.

Five companies are somewhat out of this scope and fall under the “Other Industries” classification. Thus, companies that use blockchain to solve transport and supply issues; media and entertainment; art and insurance.

The report results from a partnership between CV VC, a company that invests in and incubates crypto and blockchain projects, with Inacta and audit firm PwC.