Bitcoin Suisse: Increased Revenue, Multi-Million Profit and International Expansion
Bitcoin Suisse is back in the black and pushing ahead with its expansion plans. There has also been a change on the board of directors.
The Zug-based crypto broker has definitively completed its turnaround. Following a loss of 13 million francs in 2023, signs of recovery were already evident in the first quarter of 2024. At its Annual General Meeting at the end of June, the company reported a net profit of 16 million francs for the year 2024. Revenue increased by 56 percent compared to the previous year.
Over the past year, the company intensified efforts to strengthen its position as one of the global market leaders in crypto financial services. Among other initiatives, Bitcoin Suisse accelerated automation and workflow optimization, leveraged data integration and analytics tools to enhance operational efficiency and improve the client experience. It is also the first Swiss crypto service provider to support the Babylon Bitcoin Staking protocol, which expands Bitcoin’s staking capabilities.
First Steps in the Middle East
In 2024, Bitcoin Suisse laid the foundation for its international expansion. It established a subsidiary, BTCS (Middle East) Ltd., which in May this year received in-principle approval (IPA) from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM). This paves the way for full licensing, enabling Bitcoin Suisse to expand its portfolio and offer regulated crypto financial services in the Middle East – including trading of virtual assets, crypto securities, derivatives, and local custody. More information is available here.
“Our strategic focus on international growth and client-centric innovation is stronger than ever,” said CEO and co-founder Andrej Majcen at the AGM.
Change on the Board of Directors
A change on the board of directors was also announced during the AGM. Giles Keating stepped down, and Guenther Dobrauz-Saldapenna joined the board. Dobrauz-Saldapenna previously led the global Crypto Practice at PwC and is co-founder and partner of the Swiss investment firm Exelixis Capital, which focuses on venture capital investments. He also heads the single family office Dobrauz-Saldapenna 1858.
The board of directors is now composed as follows:
Marco Menotti, Chairman of the Board Luzius Meisser Gabriela Hauser-Spühler Philipp Rösler Ani Banerjee Guenther Dobrauz-Saldapenna
