According to a Swiss trading newspaper, Bitfinex plans to move from the company’s current location in Hong Kong to Zug, Switzerland. The CEO, Jean Louis van der Velde, announced the news to Swiss news outlet Handelszeitung on Tuesday.
In February van der Velde met with a Swiss Federal Councillor Johann Schneider-Amman, as well as a state secretary for International Finance in Berne. “meetings with the councilor and the financial state secretary have been very constructive”, van der Velde told Handelszeitung.
Though the exchange is also considering London as a potential new location, Switzerland is their first choice if they can work with regulators in the country to set up shop.
The move to Switzerland has been a sought-after dream for many projects looking to take advantage of the comfortable regulations and openness to innovation. The small town of Zug, location near Zurich, has been dubbed called “Crypto Valley”.