Switzerland's blockchain hub, known as Crypto Valley, solidified its position as Europe's premier destination for venture capital in the sector during 2025. According to an annual report from venture firm CV VC, Crypto Valley captured a dominant 47% of all European blockchain venture funding, raising a total of $728 million across 31 deals. This represents a 37% increase from the $531 million raised in 2024.
The Open Network (TON) was responsible for the single largest investment, accounting for $400 million of the region's total haul. Other significant funding rounds included Sygnum Bank ($58 million), stablecoin platform M0 ($40 million), Impossible Cloud Network ($34 million), and CratD2C ($30 million).
Globally, blockchain venture funding rose 30% to $15.5 billion across 986 deals, though deal volume fell by 32%, indicating a market shift toward fewer, larger transactions—a trend mirrored in Switzerland. The report notes that capital is concentrating into larger rounds, evidenced by Crypto Valley's deal count falling even as total capital deployed increased.
Despite the funding growth, the combined valuation of Crypto Valley's Top 50 companies fell to $467 billion, and the number of unicorns (private companies valued over $1 billion) dropped from 17 to 10. A spokesperson attributed the decline in unicorn count to weaker market conditions late in the year, which pushed six token projects below the $1 billion threshold, and the exit of 21Shares following its acquisition by FalconX.
The region now hosts 1,766 active blockchain companies, a 134% increase since 2020. Zug remains the epicenter, accounting for 20 of the 31 deals and 88% of disclosed capital, followed by Zurich. Mathias Ruch, founder and CEO of Crypto Valley, stated, "Nearly half of all European blockchain investment is now flowing into Crypto Valley," calling it a sign of a "maturing ecosystem" focused on infrastructure, finance, and frontier technologies.
Looking ahead to 2026, CV VC executives predict that advancements in account abstraction, chain abstraction, and AI integration will drive the next wave of growth, with stablecoins and real-world asset tokenization presenting significant opportunities.
