The composition of the ecosystem

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The ecosystem of Zug has changed in composition since the early years. The foundations that developed protocols and issued tokens, which dominated the landscape in 2017, have been joined by companies that provide infrastructure and services: custodians, brokers, trading platforms, developers of wallets and software, analytics firms that trace transactions on the blockchain, auditors of smart contracts, law firms and consultancies. Financial institutions with licences for crypto-assets, such as the crypto banks and the securities firms that trade tokens, have established themselves in the canton or nearby. Traditional companies, including banks, insurers and industrial groups, have set up units to explore the use of the technology in their businesses.

The shift reflects the maturing of the industry. The speculative phase, in which projects raised money on the promise of future applications, has given way to a phase in which companies build and operate services for which there is demand, under a regulatory framework that is increasingly clear. The ecosystem of Zug has benefited from this shift, because its regulatory environment, its professional services and its concentration of specialists make it an attractive location for the regulated businesses of the industry.

For general information only. This article does not constitute legal or tax advice, does not replace advice on an individual case and creates no lawyer-client relationship. It reflects the legal position as of September 2025.

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Dr Alexander Ressos, TEP

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I am a Swiss attorney-at-law and also admitted as a solicitor in Hong Kong and in England & Wales, with almost 25 years of experience.

Together with my multilingual team, including Chinese, Japanese, Korean, Russian, Ukrainian and French native speakers, I advise companies and their owners from around the world on the full range of banking, corporate, commercial and tax law matters in Switzerland, including international tax planning, fiduciary services, and legal family office services including immigration & relocation or real estate investments. My practice has a particular focus on clients from growth and frontier markets in Greater China, Central Asia and the Caucasus, the rest of Asia, the Middle East, Africa and Latin America, and I equally advise clients from Europe and North America. Through an affiliated Swiss trust company, we also take care of the incorporation and ongoing administration of their companies and other structures, including accounting, tax returns and corporate secretarial services, and I serve as a professional director where required. With the support of a network of first-class cooperation partners, I also implement solutions worldwide.

My approach is to act as a trusted advisor who works directly with decision-makers, on an equal footing: I start from what you want to achieve and shape every structure, contract and tax decision around your commercial goals and how it improves your after-tax return. As “lawyers who make it happen”, my team and I stay involved until your company is set up, your structure is in place and your transaction has closed, and we remain available for any follow-on work that may be required. You benefit from bespoke solutions and personal attention, and sound, friendly and practical advice. We are not the lowest-cost provider in the market, nor do we intend to be; our aim is to deliver well-founded, proper solutions and excellent value for money.

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